Investing.com - Consumer price inflation in the euro zone held steady in February, unchanged from a preliminary estimate, official data showed on Wednesday.
In a report, Eurostat said consumer price inflation held steady at 2.7% in February, unchanged from the previous month and broadly in line with market expectations.
The rate remains above the European Central Bank's target of near but just below 2%.
Month-on-month, CPI rose 0.5%, in line with expectations, after easing by 0.8% in January.
Core CPI, which excludes food, energy, alcohol, and tobacco costs was also unchanged, holding steady at a seasonally adjusted 1.5%. Analysts had expected core CPI to rise by 1.6%.
Following the release of the data, the euro remained modestly lower against the U.S. dollar, with EUR/USD easing down 0.15% to trade at 1.3063.
Meanwhile, European stock markets held on to broad gains. The EURO STOXX 50 jumped 0.9%, France’s CAC 40 added 0.6%, Germany's DAX surged 1%, while the FTSE 100 rose 0.35%.
In a report, Eurostat said consumer price inflation held steady at 2.7% in February, unchanged from the previous month and broadly in line with market expectations.
The rate remains above the European Central Bank's target of near but just below 2%.
Month-on-month, CPI rose 0.5%, in line with expectations, after easing by 0.8% in January.
Core CPI, which excludes food, energy, alcohol, and tobacco costs was also unchanged, holding steady at a seasonally adjusted 1.5%. Analysts had expected core CPI to rise by 1.6%.
Following the release of the data, the euro remained modestly lower against the U.S. dollar, with EUR/USD easing down 0.15% to trade at 1.3063.
Meanwhile, European stock markets held on to broad gains. The EURO STOXX 50 jumped 0.9%, France’s CAC 40 added 0.6%, Germany's DAX surged 1%, while the FTSE 100 rose 0.35%.