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Euro zone PPI falls 0.3% in January

Published 03/04/2014, 05:03 AM
Euro zone PPI falls 0.3%, compared to expectations for 0.1% decline
EUR/USD
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Investing.com - Producer price inflation in the euro zone fell more than expected in January, fueling concerns over deflation, official data showed on Tuesday.

In a report, Eurostat said that its producer price index eased down by a seasonally adjusted 0.3% in January, compared to expectations for a 0.1% decline. Producer prices inched up 0.2% in December.

Year-over-year, the producer price index declined at an annualized rate of 1.4% in January, compared to expectations for a 1.3% drop, after falling at a rate of 0.8% in November.

Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD rising 0.13% to trade at 1.3753.

Meanwhile, European stock markets remained higher. The EURO STOXX 50 rallied 1.1%, France's CAC 40 tacked on 1.4%, Germany's DAX picked up 1%, while London’s FTSE 100 advanced 1.1%.

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