FXstreet.com (Barcelona) - Inflation at consumer levels continued ticking up in January at levels well above the ECB's margin for price stability, according to the latest consumer prices report by Eurostat.

Prices at consumer level have increased 3.2% in January from January last year, up from the 3.1% increase posted last month, and sharply above the 1.8% year on year growing pace posted in January 2007.

On the month, consumer prices have decreased 0.4%, reversing the 0.4% increase posted in December.

The main contributors to the yearly increase have been education, 9.4% up on the year, transport, 5.7% up and food, posting a 5,4% year-on year increase. On the month, food increased 1.1% while health and housing posted both 1.0% increases. Clothing posted a 9.3% monthly decline, and prices for recreation and culture dropped 2.2%.