EURO ZONE INFLATION PRESSURE AT 28-MONTH HIGH IN JANUARY

Bangalore, March 4- Euro zone inflationary pressures hit a 28-month high in January, according to a forward-looking indicator released by the Economic Cycle Research Institute.

The Eurozone Future Inflation Gauge (EFZIG), an indicator designed to predict inflation trends, rose to 102.1 in January from 101.6 in December. New York-based ECRI said euro zone inflationary pressures are in a cyclical uptrend, led by Germany, France and Spain.

Official euro zone inflation accelerated to 2.4 percent last month, moving further above the European Central Bank's target of just below 2 percent.

ECB President Jean-Claude Trichet at his monthly press conference on Thursday hinted at the possibility of an interest rate hike as early as April.

Thirty-nine of 49 economists polled by Reuters after the central bank's March meeting said a rate hike from the current record low of 1.0 percent would come next month.

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