Investing.com – Consumer price inflation in the euro zone eased broadly in line with market expectations in January, preliminary data showed on Wednesday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.7% in January, in line with expectations and down from 2.8% in December.
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 rising 0.43% to trade at 1.3140.
Meanwhile, European stock markets were up sharply. The EURO STOXX 50 rallied 1.75%, France’s CAC 40 jumped 1.7%, London’s FTSE 100 rose 1.4%, while Germany's DAX surged 1.9%.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.7% in January, in line with expectations and down from 2.8% in December.
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 rising 0.43% to trade at 1.3140.
Meanwhile, European stock markets were up sharply. The EURO STOXX 50 rallied 1.75%, France’s CAC 40 jumped 1.7%, London’s FTSE 100 rose 1.4%, while Germany's DAX surged 1.9%.