Investing.com - Consumer price inflation in Germany rose less than expected in May, underlining concerns over the risk of deflation in the euro area, official preliminary data showed on Monday.
In a report, the German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 0.9% last month, down from 1.3% in April. Analysts had expected German consumer prices to rise by 1.1% in May.
Month-over-month, German consumer prices declined 0.1% last month, compared to forecasts for an increase of 0.2%, after falling 0.2% in the preceding month.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.21% to trade at 1.3606, compared to 1.3611 ahead of the data.
Meanwhile, European stock markets remained higher. Germany''s DAX eased up 0.2%, the Euro Stoxx 50 advanced 0.1%, France’s CAC 40 added 0.1%, while London’s FTSE 100 picked up 0.3%.