Forexpros – Consumer price inflation in the euro zone rose broadly in line with market expectations in June, official data showed on Thursday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.7% in June, unchanged from a preliminary estimate.
Core CPI, which excludes food, energy, alcohol, and tobacco costs, rose unexpectedly, increasing by a seasonally adjusted 1.6%. Analysts had expected core CPI to remain unchanged from a preliminary reading of 1.5%.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.48% to trade at 1.4230.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 edged 0.15% lower, France’s CAC 40 dropped 0.4%, the FTSE 100 slumped 0.5%, while Germany’s DAX shed 0.25%.
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