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Euro zone CPI rises less-than-expected in January

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Forex Pros - Consumer price inflation in the euro zone rose less than initially expected in January, official data showed on Monday.

In a report, Eurostat said that CPI rose by a seasonally adjusted 2.3% in January, compared to a preliminary estimate of 2.4%.

Analysts had expected euro zone consumer price inflation to rise by 2.4% in January.

Core CPI, which excludes food, energy, alcohol, and tobacco costs, rose less-than-expected, rising by a seasonally adjusted 1.1% in January, unchanged from a previous estimate of 1.1%.

Analysts had expected core CPI to increase by 1.2% in January.

Following the release of the data the euro was up against the U.S. dollar, with EUR/USD gaining 0.51% to hit 1.3823.

Meanwhile, European stock markets were down. The EURO STOXX 50 shed 0.32%, France's CAC 40 slipped 0.12%, the FTSE 100 dropped 0.56%, while Germany's DAX was down 0.23%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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