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Euro zone CPI rises in line with expectations in April

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Forex Pros - Consumer price inflation in the euro zone rose broadly in line with expectations in April, official data showed on Monday.

In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.8% in April, unchanged from a preliminary estimate.

Core CPI, which excludes food, energy, alcohol, and tobacco costs, rose more-than-expected in April, increasing by a seasonally adjusted 1.6%, surpassing expectations for a 1.5% increase.

Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD adding 0.1% to hit 1.4134.

Meanwhile, European stock markets were sharply lower. The EURO STOXX 50 dropped 1.05%, France's CAC 40 tumbled 1.3%, the FTSE 100 declined 0.6%, while Germany's DAX fell 1.2%.

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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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