Investing.com - Consumer price inflation in the euro zone rose less than expected in November, adding to speculation that the European Central Bank may scale up its stimulus program, official preliminary data showed on Wednesday.
In a report, Eurostat said consumer price inflation increased by a seasonally adjusted 0.1% last month, missing expectations for a gain of 0.2% and following a 0.1% increase in October.
The rate has now been below 1% for 26 straight months, well under the European Central Bank's target of near but just under 2%.
Core CPI, which excludes food, energy, alcohol, and tobacco costs increased by a seasonally adjusted 0.9% in November, below forecasts for 1.1% and down from 1.1% a month earlier.
EUR/USD fell to 1.0604 from around 1.0621 ahead of the release of the data, while EUR/GBP was at 0.7050 from 0.7062 earlier.
The Investing.com euro index, which tracks the single currency against a basket of six major rivals, was at 85.64, compared to 85.74 ahead of the report.
Meanwhile, European stock markets were modestly higher. The EURO STOXX 50 rose 0.25%, Germany's DAX tacked on 0.25%, France’s CAC 40 inched up 0.35%, while London’s FTSE 100 advanced 0.5%.