Investing.com - Consumer price inflation in the euro zone rose less than initially estimated in February, underlining concerns over the threat of deflation in the region, official data showed on Monday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.7% last month, down from a preliminary estimate of 0.8%. Euro zone inflation rose by 0.8% in January.
The rate remains firmly below the European Central Bank''s target of near but just below 2%.
Month-over-month, consumer prices inched up 0.3% last month, below expectations for a gain of 0.4% and following a decline of 1.1% in January.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 1% in February, unchanged from an initial estimate and unchanged from January.
Following the release of the data, the euro added to losses against the U.S. dollar, with EUR/USD shedding 0.17% to trade at 1.3891, compared to 1.3899 ahead of the data.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.85%, France’s CAC 40 added 0.75%, London’s FTSE 100 picked up 0.5%, while Germany''s DAX gained 0.65%.