Eurostat: consumer price inflation (CPI) in the euro zone was revised up unexpectedly in
August, bouncing off the lowest level since October 2009, remaining below the ECB's target.
In an official report released on Wednesday, Eurostat said consumer price inflation rose by a seasonally adjusted 0.4% in August, up from a preliminary estimate of 0.3%. Euro zone inflation rose by 0.4% in July.
The rate remains strongly below the European Central Bank's target of near but just below 2%.
Month-over-month, consumer prices inched up 0.1% last month, in line with forecasts and following a 0.7% decline in July.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.9% in August, meeting forecasts and unchanged from an initial estimate.
EUR/USD was trading at 1.2961 from around 1.2959 ahead of the release of the data, while EUR/GBP was at 0.7953 from 0.7954 earlier.
Meanwhile, European stock markets kept being higher. The DJ Euro Stoxx 50 inched up 0.55%, France’s CAC 40 rose 0.65%, Germany's DAX advanced 0.55%, while London’s FTSE 100 tacked on 0.25%.
