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Euro zone CPI holds steady at 1.3% in August

Economic IndicatorsSep 16, 2013 09:00AM GMT Add a Comment
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Investing.com - Consumer price inflation in the euro zone held steady in August, unchanged from a preliminary estimate, official data showed on Monday.

In a report, Eurostat said consumer price inflation held steady at a seasonally adjusted 1.3% in August, unchanged from an initial estimate and in line with expectations.

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

Month-over-month, consumer price inflation rose 0.1% last month, in line with expectations.

Core CPI, which excludes food, energy, alcohol, and tobacco costs held steady at a seasonally adjusted 1.1% in August, in line with estimates and unchanged from a preliminary estimate.

Following the release of that data, the euro remained higher against the U.S. dollar, with EUR/USD rising 0.4% to trade at 1.3350.

Meanwhile, European stock markets held on to strong gains. The EURO STOXX 50 advanced 0.85%, France’s CAC 40 climbed 0.9%, Germany's DAX rallied 1.2%, while London’s FTSE 100 rose 0.85%.

Euro zone CPI holds steady at 1.3% in August

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