Investing.com - Consumer price inflation in Germany held steady in October, underlining concerns over the risk of deflation in the euro area, official preliminary data showed on Thursday.
In a report, the German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 0.8% this month, unchanged from September and compared to forecasts for a reading of 0.9%.
Month-over-month, German consumer prices declined 0.3% this month, compared to forecasts for a fall of 0.1%, after holding flat in the preceding month.
EUR/USD was trading at 1.2609 from around 1.2604 ahead of the release of the data, while EUR/GBP was at 0.7877 from 0.7876 earlier.
Meanwhile, European stock markets remained lower. Germany's DAX slumped 1%, the DJ Euro Stoxx 50 fell 0.95%, France’s CAC 40 dropped 0.6%, while London’s FTSE 100 lost 0.7%.