Forexpros – Consumer price inflation in the euro zone held steady in April, unchanged from a preliminary estimate, official data showed on Wednesday.
In a report, Eurostat said consumer price inflation held steady at 2.6% in April, unchanged from the previous month and broadly 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 rose 0.5%, in line with expectations, after rising by 1.3% in March.
Core CPI, which excludes food, energy, alcohol, and tobacco costs was also unchanged, holding steady at a seasonally adjusted 1.6%. Analysts had expected core CPI to ease to 1.5%.
Following the release of the data, the euro remained modestly lower against the U.S. dollar, with EUR/USD easing down 0.13% to trade at 1.2713.
Meanwhile, European stock markets remained broadly lower. The EURO STOXX 50 fell 0.55%, France’s CAC 40 dipped 0.2%, Germany’s DAX slumped 0.95%, while London’s FTSE 100 dropped 1%.
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