Investing.com - Consumer price inflation in the euro zone was unchanged from an initial estimate in February, underlining concerns over deflation in the single currency bloc, official data showed on Tuesday.
In a report, Eurostat said consumer price inflation fell by a seasonally adjusted 0.3% last month, in line with expectations and unchanged from a preliminary estimate. Euro zone inflation declined by 0.6% in January.
The rate remains firmly below the European Central Bank's target of near but just below 2%.
Month-over-month, consumer prices rose 0.6% in February, in line with forecasts and following a 1.6% decline in January.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.7% in February, up from an initial estimate of 0.6%.
EUR/USD was trading at 1.0612 from around 1.0604 ahead of the release of the data, while EUR/GBP was at 0.7174 from 0.7168 earlier.
Meanwhile, European stock markets were mostly lower. Germany's DAX lost 0.7%, the EURO STOXX 50 shed 0.25%, France’s CAC 40 declined 0.15%, while London’s FTSE 100 eased up 0.45%.