IV:Euro zone flash CPI slows to 4-year low of 0.7% in October
Investing.com - Consumer price inflation in the euro zone rose at the slowest pace since November 2009 in October, official preliminary data showed on Monday.
In a report, Eurostat said consumer price inflation increased by a seasonally adjusted 0.7% this month, down from 1.1% in September. Economists had expected an unchanged reading.
The rate stands below the European Central Bank's target of near but just below 2%.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.8% in October, slowing from 1% in September.
Following the release of the data, the euro added to losses against the U.S. dollar, with EUR/USD shedding 0.43% to trade at 1.3676.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.1%, France's CAC 40 declined 0.1%, Germany's DAX retreated 0.3%, while London’s FTSE 100 slumped 0.45%.
