The head of the European Central Bank (ECB) has said deflation is not a threat to the eurozone economy.
The ECB kept its benchmark interest rate at 0.25% after its latest meeting. The rate was cut to its current record low in November.
ECB president Mario Draghi said: “We have to dispense with this idea of deflation. The question is – is there deflation? The answer is no.”
Eurozone inflation slowed to 0.7% in January from 0.8% in December.
The figure fuelled worries about whether the euro bloc could suffer deflation, potentially de-railing economic growth.