Investing.com – Consumer price inflation in the euro zone held steady in August, preliminary data showed on Wednesday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.5% in August, 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%.
Following the release of the data, the euro was fractionally lower against the U.S. dollar, with EUR/USD dipping 0.06% to trade at 1.4433.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 rose 1.35%, France’s CAC 40 jumped 1.5%, the FTSE 100 gained 0.9%, while Germany's DAX rallied 1.35%.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.5% in August, 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%.
Following the release of the data, the euro was fractionally lower against the U.S. dollar, with EUR/USD dipping 0.06% to trade at 1.4433.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 rose 1.35%, France’s CAC 40 jumped 1.5%, the FTSE 100 gained 0.9%, while Germany's DAX rallied 1.35%.