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Euro zone inflation at 0.2% in June, as expected
(MENAFN- FxPro) Consumer price inflation in the euro zone barely rose in June, reviving fears over the threat of deflation, official preliminary data showed on Tuesday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.2% this month, meeting forecasts and following an increase of 0.3% in May.
The rate has now been below 1% for 20 straight months, well under the European Central Bank's target of near but just under 2%.
Core CPI, which excludes food, energy, alcohol, and tobacco costs increased by a seasonally adjusted 0.8% in June, in line with expectations and down from 0.9% in May.
Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in June, followed by services, non-energy industrial goods and energy.
EUR/USD was trading at 1.1152 from around 1.1141 ahead of the release of the data, while EUR/GBP was at 0.7092 from 0.7086 earlier.
Meanwhile, European stock markets held on to losses. The EURO STOXX 50 dropped 0.85%, Germany's DAX slumped 1%, France's CAC 40 declined 1%, while London's FTSE 100 shed 0.9%.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.2% this month, meeting forecasts and following an increase of 0.3% in May.
The rate has now been below 1% for 20 straight months, well under the European Central Bank's target of near but just under 2%.
Core CPI, which excludes food, energy, alcohol, and tobacco costs increased by a seasonally adjusted 0.8% in June, in line with expectations and down from 0.9% in May.
Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in June, followed by services, non-energy industrial goods and energy.
EUR/USD was trading at 1.1152 from around 1.1141 ahead of the release of the data, while EUR/GBP was at 0.7092 from 0.7086 earlier.
Meanwhile, European stock markets held on to losses. The EURO STOXX 50 dropped 0.85%, Germany's DAX slumped 1%, France's CAC 40 declined 1%, while London's FTSE 100 shed 0.9%.
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