Investing.com - Euro zone inflation eased in line with expectations in December, according to a revision released by Eurostat on Friday
The European Union's statistics office said the consumer price index rose at an annual rate of 1.4% in December, from 1.5% in November.
The rates were in line with expectations but below the ECB target inflation rate of 2%, supporting the central bank’s approach to gradually increasing interest rates.
Meanwhile inflation rose by 0.4% month-over-month in December, compared to a previous reading of 0.1%.
Core inflation, which excludes energy and food prices and is closely watched by the ECB, rose by an annualized 0.9%, the same as last month.
After the report, EUR/USD was trading at 1.2243 compared to 1.2236 prior.