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Euro zone CPI unexpectedly slows to 0.7% in February

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Investing.com -

Investing.com - Consumer price inflation in the euro zone rose less than initially estimated in February, underlining concerns over the threat of deflation in the region, official data showed on Monday.

In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.7% last month, down from a preliminary estimate of 0.8%. Euro zone inflation rose by 0.8% in January.

The rate remains firmly below the European Central Bank's target of near but just below 2%.

Month-over-month, consumer prices inched up 0.3% last month, below expectations for a gain of 0.4% and following a decline of 1.1% in January.

Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 1% in February, unchanged from an initial estimate and unchanged from January.

Following the release of the data, the euro added to losses against the U.S. dollar, with EUR/USD shedding 0.17% to trade at 1.3891, compared to 1.3899 ahead of the data.

Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.85%, France's CAC 40 added 0.75%, London's FTSE 100 picked up 0.5%, while Germany's DAX gained 0.65%.

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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.


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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