Irish inflation is lowest in the eurozone

FEARS still persist that the European Central Bank (ECB) will hike interest rates next month despite the turmoil in global financial markets.

This news comes as figures show Ireland had the lowest annual rate of inflation in the European Union last month, according to Eurostat, the statistical office of the EU.

Overall European inflation accelerated to the fastest in more than two years in February, increasing pressure on the ECB to raise interest rates.