European stocks fell ahead of inflation data release ‎

European stocks fell on Monday ahead of data expected to show inflation slowing in the euro zone in July, likely supporting expectations that the European Central Bank will keep interest rates unchanged in September.

According to “Reuters”, the European Stoxx 600 index fell 0.1% by 0714 GMT, but it seemed set to record gains for the second month in a row.

The index’s decline was affected by a 4.8% decline in Heineken stock after the world’s second-largest brewing company by value cut its forecast for 2023 profit growth after an economic slowdown in Vietnam cut first-half profits more than expected.

Diageo and Anheuser-Busch InBev shares also fell more than 1 percent each.

The preliminary reading of eurozone inflation, due at 0900 GMT, is expected to show that the price increase slowed to 5.3% in July from 5.5% a year earlier.

The European Central Bank raised interest rates for the ninth time in a row last week, but left the door open to halting the increases in September, even though core inflation appears to be more stable than previously thought.