Euro Zone CPI plunges to record low in July; Euro not affected

Consumer priced dropped 0.7% in July in the Euro Area, while they declined the same 0.7%, the largest yearly decline since records for Euro Area inflation are taken.compared to July 2008. The Euro, nevertheless, has remained cold.

July's decline has beaten expectations of a 0.6% drop, yearly and annually. Excluding food and energies, prices of all other products declined 0.6% in July while they rose 1.3% year on year.

EUR/USD has remained little changed after CPI data, the Euro remains moving around 1.4285, the same levels it was before inflation data was released.