Investing.com - Consumer price inflation in the euro zone was unchanged from a preliminary estimate in April, official data showed on Thursday.
In a report, Eurostat said the annual rate of consumer price inflation rose by a seasonally adjusted 0.7% last month, unchanged from a preliminary estimate. Euro zone inflation rose by 0.5% on a year-over-year basis in March.
The rate remains firmly below the European Central Bank's target of near but just below 2%.
Month-over-month, consumer prices inched up 0.2% last month, meeting forecasts and following a 0.9% increase in March.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 1% in April, 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 0.31% to trade at 1.3673.
Meanwhile, European stock markets remained lower. The Euro Stoxx 50 declined 0.35%, France's CAC 40 dipped 0.3%, London's FTSE 100 shed 0.15%, while Germany's DAX slumped 0.25%.
