Forexpros – Consumer price inflation in the euro zone held steady in October, preliminary data showed on Monday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 3.0% in October, unchanged from the previous month.
Analysts had expected euro zone CPI to dip slightly to 2.9%.
The rate remains above the European Central Bank’s target of near but just below 2%.
Following the release of the data, the euro held on to sharp losses against the U.S. dollar, with EUR/USD tumbling 1.15% to trade at 1.3985.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 tumbled 1.75%, France’s CAC 40 dropped 1.9%, the FTSE 100 slumped 1.1%, while Germany’s DAX fell 1.6%.
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