Investing.com - Producer price inflation in the euro zone fell more-than-expected in May, declining for the third consecutive month, official data showed on Tuesday.
In a report, Eurostat said that its producer price index eased down by a seasonally adjusted 0.3% in May, compared to expectations for a 0.2% decline.
Producer prices fell by 0.6% in April.
Year-over-year, the producer price index dipped at an annualized rate of 0.1% in May, compared to expectations for a flat reading, after falling at a rate of 0.2% in April.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD dipping 0.31% to trade at 1.3023.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 retreated 0.5%, France's CAC 40 declined 0.6%, Germany's DAX fell 0.7%, while London’s FTSE 100 shed 0.3%.
In a report, Eurostat said that its producer price index eased down by a seasonally adjusted 0.3% in May, compared to expectations for a 0.2% decline.
Producer prices fell by 0.6% in April.
Year-over-year, the producer price index dipped at an annualized rate of 0.1% in May, compared to expectations for a flat reading, after falling at a rate of 0.2% in April.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD dipping 0.31% to trade at 1.3023.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 retreated 0.5%, France's CAC 40 declined 0.6%, Germany's DAX fell 0.7%, while London’s FTSE 100 shed 0.3%.