Investing.com - Consumer price inflation in the euro zone was revised up unexpectedly in August, bouncing off the lowest level since October 2009, official data showed on Wednesday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.4% last month, up from a preliminary estimate of 0.3%. Euro zone inflation rose by 0.4% in July.
The rate remains firmly below the European Central Bank's target of near but just below 2%.
Month-over-month, consumer prices inched up 0.1% last month, in line with forecasts and following a 0.7% decline in July.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.9% in August, meeting forecasts and unchanged from an initial estimate.
EUR/USD was trading at 1.2961 from around 1.2959 ahead of the release of the data, while EUR/GBP was at 0.7953 from 0.7954 earlier.
Meanwhile, European stock markets remained higher. The DJ Euro Stoxx 50 inched up 0.55%, France’s CAC 40 rose 0.65%, Germany's DAX advanced 0.55%, while London’s FTSE 100 tacked on 0.25%.