Investing.com - Consumer price inflation in the euro zone rose less than expected in April, underlining concerns over the threat of deflation in the region, official preliminary data showed on Wednesday.
In a report, Eurostat said consumer price inflation increased by a seasonally adjusted 0.7% this month, up down from 0.5% in March and missing expectations for a reading of 0.8%.
The rate stands well below the European Central Bank's target of near but just under 2%.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 1% in April, accelerating from 0.7% in March and in line with expectations.
Following the release of the data, the euro trimmed losses against the U.S. dollar, with EUR/USD shedding 0.04% to trade at 1.3809, compared to 1.3795 ahead of the data.
Meanwhile, European stock markets remained mixed. The Euro Stoxx 50 shed 0.3%, France’s CAC 40 dipped 0.4%, London’s FTSE 100 picked up 0.1%, while Germany's DAX fell 0.1%.