Investing.com - Consumer price inflation in the euro zone was revised down unexpectedly in January, adding to concerns over deflationary pressures, official data showed on Thursday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.3% last month, down from a preliminary estimate of 0.4%. Euro zone inflation rose by 0.2% in December.
Month-over-month, consumer prices fell 1.4% last month, matching forecasts and following a flat reading in December.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 1.0% in January, meeting expectations and unchanged from an initial estimate.
EUR/USD was trading at 1.1016 from around 1.1014 ahead of the release of the data, while EUR/GBP was at 0.7913 from 0.7910 earlier.
Meanwhile, European stock markets were broadly higher. France’s CAC 40 jumped 1.4%, the EURO STOXX 50 advanced 1.5%, Germany's DAX rose 0.7%, while London’s FTSE 100 rallied 1.8%.