Euro zone annual inflation rate rose to 2.4% in January from 2.2% in December, according to the agency Eurostat. This is the first rise since inflation spiked at 2.6% in September, growing up from 2.2% in August as pressure on oil provisions squeezed prices. "Fuel for transport, heating oil and gas had contributed the most to the increase in January," said Eurosatat. The January rate means that inflation is once again well over the European Central Bank's preferred level of close to but less than 2%, which is likely to increase expectations of an interest rate rise on Thursday. Worries about price stability caused the ECB to raise its interest rate for the euro zone to 2.25% from 2% in December, the first increase in five years.