Investing.com - Consumer price inflation in the euro zone was unchanged from a preliminary estimate in May, official data showed on Monday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.5% last month, in line with expectations and unchanged from a preliminary estimate. Euro zone inflation rose by 0.7% in April.
The rate remains firmly below the European Central Bank''s target of near but just below 2%.
Month-over-month, consumer prices inched down 0.1% last month, meeting forecasts and following a 0.2% increase in April.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.7% in May, meeting forecasts and unchanged from an initial estimate.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.11% to trade at 1.3525.
Meanwhile, European stock markets remained lower. The Euro Stoxx 50 declined 0.4%, France’s CAC 40 dipped 0.3%, London’s FTSE 100 shed 0.1%, while Germany''s DAX slumped 0.2%.
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