European stocks start the week lower ahead of inflation data

European stocks fell at the start of the week as investors continued to remain cautious ahead of important inflation data in the US and Europe later in the week.

By 0713 GMT, the European STOXX 600 index was down 0.02%. Due to a holiday in the United States and Britain on Monday, trading in stocks of all sectors was dull.

Investors are awaiting consumer price data in the euro zone for May before the European Central Bank’s monetary policy meeting next week. It appears 90 percent that the bank is ready to start cutting interest rates at the next meeting, and weak inflation data may help cut interest rates in June.

US inflation data, scheduled to be released on Friday, could help traders evaluate the timing of the US Federal Reserve’s cut of interest rates this year.

Regarding corporate news, the shares of salmon production company Backafrost led declines on the STOXX 600 index, declining 4.5% after the discovery of the infectious salmon anemia virus on a farm belonging to the company.