Euro zone CPI eases unexpectedly in December

Forexpros - Consumer price inflation in the euro zone eased unexpectedly in December, official data showed on Tuesday. In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.7% in December, down from a preliminary estimate of 2.8% and slowing from 3.0% in November.Analysts had expected euro zone consumer prices to hold steady at 2.8%.Month-on-month, CPI rose 0.3%, below expectations for a 0.4% increase. Core CPI, which excludes food, energy, alcohol, and tobacco costs, held steady at a seasonally adjusted 1.6%, unchanged from a previous estimate. Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD gaining 0.95% to trade at 1.2788.Meanwhile, European stock markets added to strong gains. The EURO STOXX 50 rallied 2%, France's CAC 40 jumped 1.9%, Germany's DAX surged 1.9%, while the FTSE 100 rose 1.15%.
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