The increase could put pressure on the ECB to raise interest rates
The eurozone's inflation rate rose to a 27-month high of 2.4% in January, which was higher than analysts had expected and up from December's figure of 2.2%.
The increase takes inflation further away from the European Central Bank's target of just below 2%.
The data may increase pressure on the ECB ahead of a meeting this week when it is due to review interest rates.
However, some analysts expect the bank to leave rates unchanged in expectation of cooling inflation later this year.
"While January's increase to 2.4% was at the top end of expectations, the ECB is very aware that consumer price inflation is being pushed up primarily by higher energy, commodity and food prices and the bank seems prepared to look through this for now," said Howard Archer, economist at IHS Global Insight.
The current eurozone interest rate of 1%, set in May 2009, is a record low for the ECB.
Euro rise
Policymakers at the ECB will also be keenly aware of the austerity measures taking effect in countries such as Greece, the Irish Republic and Portugal.
If interest rates in the smaller eurozone countries were to rise, on top of rising taxes and spending cuts, a return to growth for the eurozone as a whole might be threatened.
Following the release of the inflation data from Eurostat, the euro rose 0.4% against the dollar, with one euro buying $1.3670.
The eurozone inflation figure comes after the UK (which is not a member of the euro) released inflation figures earlier this month showing Consumer Prices Index (CPI) inflation had risen to 3.7% in December, up from 3.3% in November.
There have been signs that the Bank of England might be moving towards a rate rise, with two members of the nine-member monetary policy committee at the Bank voting in favour of rate increase this month.
