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Euro Zone Flash CPI Rises In Line With Expectations In February
Written by article default Wednesday, 16 March 2011 12:40
Consumer price inflation in the euro zone rose broadly in line with expectations in February, official data showed on Wednesday.In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.4% in February, unchanged from a preliminary estimate.
Core CPI, which excludes food, energy, alcohol, and tobacco costs, rose less-than-expected in February, increasing by a seasonally adjusted 1.0%, falling short of expectations of 1.1%.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.38% to hit 1.3945.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 dropped 0.64%, France’s CAC 40 slumped 0.75%, the FTSE 100 declined 0.72%, while Germany’s DAX was up 0.1%.