Euro area Inflation down to 2.5%

Friday, 29 July 2011 01:32

Information reported by the Statistical Office of the European Union, EuroStat, released the estimated Eurozone Inflation at 2.5%; dropping in July from June's 2.7%.  Economists expected Euroarea to remain at 2.7%, the same as the previous month's release.

This unexpected drop marked a five-month low. 

The European currency took a hit against the U.S Dollar in today's trading session.  On marking a 1.4362 high after opening at 1.4327, the pair dropped to a low of 1.4255. Currently, the pair is trading at 1.4280.