Investing.com – Producer price inflation in the euro zone rose slightly less-than-expected in February, official data showed on Monday.
In a report, Eurostat said that its producer price index rose by 0.8% in February, after rising by 1.3% in January, whose figure was revised down from 1.5%.
Analysts had expected the producer price index to increase by 0.9% in February.
According to the data, the producer price index rose at an annualized rate of 6.6% in February, after advancing at a rate of 5.9% in January. Analysts expected year-on-year PPI to rise at an annualized rate of 6.7%.
The report showed that among euro zone member states, the highest increases in prices were recorded in Lithuania, Belgium and Denmark, while decreases were observed in Slovakia and Sweden.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.27% to hit 1.4197.
Meanwhile, European stock markets were mixed. The FTSE 100 added 0.18%, the EURO STOXX 50 eased down 0.05%, France’s CAC 40 dipped 0.1%, while Germany's DAX rose 0.15%.
In a report, Eurostat said that its producer price index rose by 0.8% in February, after rising by 1.3% in January, whose figure was revised down from 1.5%.
Analysts had expected the producer price index to increase by 0.9% in February.
According to the data, the producer price index rose at an annualized rate of 6.6% in February, after advancing at a rate of 5.9% in January. Analysts expected year-on-year PPI to rise at an annualized rate of 6.7%.
The report showed that among euro zone member states, the highest increases in prices were recorded in Lithuania, Belgium and Denmark, while decreases were observed in Slovakia and Sweden.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.27% to hit 1.4197.
Meanwhile, European stock markets were mixed. The FTSE 100 added 0.18%, the EURO STOXX 50 eased down 0.05%, France’s CAC 40 dipped 0.1%, while Germany's DAX rose 0.15%.