Encourage the child to chime in and chorally read part of the book with you, particularly the rhyming portions. He will probably echo as you read and will actually be a split second behind you in pronouncing the words.
One and two year olds are beginning to build their basic concepts about print as they watch how the adult handles the book. Multiple daily read aloud opportunities are critically important for young children. Board books are particularly suited to this age as they are sturdier and easier for the young child to manipulate.