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Euro zone final CPI holds at 0.5% in May

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Investing.com -

Investing.com - Consumer price inflation in the euro zone was unchanged from a preliminary estimate in May, official data showed on Monday.

In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.5% last month, in line with expectations and unchanged from a preliminary estimate. Euro zone inflation rose by 0.7% in April.

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

Month-over-month, consumer prices inched down 0.1% last month, meeting forecasts and following a 0.2% increase in April.

Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.7% in May, meeting forecasts and unchanged from an initial estimate.

Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.11% to trade at 1.3525.

Meanwhile, European stock markets remained lower. The Euro Stoxx 50 declined 0.4%, France's CAC 40 dipped 0.3%, London's FTSE 100 shed 0.1%, while Germany's DAX slumped 0.2%.

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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.


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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