Eurozone Inflation Slows Sharply as Energy Costs Continue to Ease Inflation eased swiftly and sharply in the eurozone last month, as skyrocketing energy costs declined amid a broad European conservation effort, but prices for many goods continued to climb and policymakers are expected to raise interest rates this week. Consumer prices in countries that use the euro rose at an 8.5 percent annual rate in January, down from 9.2 percent in December and well below double-digit increases in autumn, according to a European Commission estimate released Wednesday. It was the third monthly decline since the inflation rate hit 10.6 percent in October.

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