Forexpros – Consumer price inflation in the euro zone held steady in June, unchanged from a preliminary estimate, official data showed on Monday.
In a report, Eurostat said consumer price inflation held steady at 2.4% in June, unchanged from the previous month and in line with market expectations.
The rate remains above the European Central Bank’s target of near but just below 2%.
Month-on-month, CPI declined 0.1%, compared to expectations for a flat reading, after falling 0.1% in May.
Core CPI, which excludes food, energy, alcohol, and tobacco costs was also unchanged, holding steady at a seasonally adjusted 1.6%, in line with expectations.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.36% to trade at 1.2205.
Meanwhile, European stock markets remained broadly lower. The EURO STOXX 50 fell 0.3%, France’s CAC 40 dropped 0.45%, Germany’s DAX slumped 0.2%, while London’s FTSE 100 shed 0.2%.
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