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Market Update

Euro Zone Inflation Dips to 0.5%

Author: Nigel Thomas
Last Update: 9:45 AM ET June 03 2014

Market indexes across the euro zone declined after the latest inflation report showed smaller than expected increase.

The inflation index fell to 0.5% rate in May from 0.7% in April, the Eurostat said in Luxembourg today. The inflation has been below 1% for eight months and the European Central Bank has inflation target just below 2%.

In a separate report the statistics agency said jobless rate declined to 11.7% in April from 11.8% in March.

The elevated unemployment is largely driven by weak economies in Greece, Spain, Italy and France.

The euro gained to $1.36 against the dollar after falling 0.3% in yesterday’s trading.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc