FXstreet.com (Barcelona) - Inflation on the countries belonging to the Euro Area is estimates to have grown at a 3.6% pace in the first quarter of the year, up from the 3.3% yearly increase posted in the last three months of 2007.

Consumer prices are growing at a pace sharply above the 2.0% upper limit of price stability, which could give reasons for some action on the ECB, whose monetary policy committee meets next week.