Inflation data released in Europe on Wednesday showed that inflation rates in the euro area remained unchanged during May, while annual inflation rates in Britain decreased.
The final reading of the annual consumer price index in the euro area rose in May by 0.1%, unchanged from the flash reading, while the April reading was up by 0.3%.
As for the final reading of the annual core price index for consumer prices, it increased by 0.9%, where it witnessed no change from both preliminary and previous readings.
Moving to Britain, the annual consumer price index, which is the key inflation gauge, increased by 0.5% in May, moving in line with expectations, but it was less than the previous reading, which was 0.8% higher.
The annual core index increased by 1.2% and expectations were for a rise of 1.3%, while the previous reading was up by 1.4%.
It is worth noting that the effect of inflation data was somewhat limited on the movements of both the euro and the British pound against the US dollar.
The British pound has
been experiencing negative pressure since yesterday's trading against the
dollar, but the pair's movement is weak today, hovering higher today around the
level of 1.2554.