Forexpros – Consumer price inflation in the euro zone eased more-than-expected in May, preliminary data showed on Thursday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.4% in May, easing from April’s 2.6% reading.
Analysts had expected consumer prices in the euro zone to ease to 2.5% in May.
The rate remains above the European Central Bank’s target of near but just below 2%.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD gaining 0.37% to trade at 1.2412.
Meanwhile, European stock markets held on to gains. The EURO STOXX 50 rose 0.6%, France’s CAC 40 advanced 0.6%, London’s FTSE 100 jumped 0.85%, while Germany’s DAX gained 0.45%.
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