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Euro zone flash CPI rises to 1.6% in June

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Investing.com - Consumer price inflation in the euro zone accelerated in line with expectations in June, official preliminary data showed on Monday.

In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 1.6% in June, in line with forecasts and up from May's 1.4% reading.

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

Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.27% to trade at 1.3045.

Meanwhile, European stock markets remained mixed. The EURO STOXX 50 fell 0.1%, France's CAC 40 dipped 0.1%, London's FTSE 100 eased up 0.2%, while Germany's DAX shed 0.5%.

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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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