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Euro zone final CPI holds at 0.4% in July

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Investing.com -

Investing.com - Consumer price inflation in the euro zone was unchanged from a preliminary estimate in July, holding at the lowest level since October 2009, official data showed on Thursday.

In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.4% last month, in line with expectations and unchanged from a preliminary estimate. Euro zone inflation rose by 0.5% in June.

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

Month-over-month, consumer prices declined 0.7% last month, compared to forecasts for a 0.6% drop and following a 0.1% gain in June.

Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.8% in July, meeting forecasts and unchanged from an initial estimate.

Following the release of the data, the euro turned higher against the U.S. dollar, with EUR/USD rising 0.04% to trade at 1.3369, compared to 1.3359 ahead of the data.

Meanwhile, European stock markets remained mixed. The DJ Euro Stoxx 50 declined 0.7%, France's CAC 40 dipped 0.45%, London's FTSE 100 inched up 0.15%, while Germany's DAX slumped 0.4%.

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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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