Investing.com - Producer price inflation in the euro zone rose modestly in October, defying expectations for small decline, official data showed on Tuesday.
In a report, Eurostat said that its producer price index accelerated by a seasonally adjusted 0.1% in October, compared to expectations for a 0.1% decline.
Producer prices rose by 0.2% in September.
Year-over-year, the producer price index rose at an annualized rate of 2.6% in October, above expectations for a 2.5% gain, after climbing at a rate of 2.7% in September.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.11% to trade at 1.3069.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 rose 0.6%, France's CAC 40 climbed 0.75%, Germany's DAX gained 0.2%, while London’s FTSE 100 advanced 0.15%.
In a report, Eurostat said that its producer price index accelerated by a seasonally adjusted 0.1% in October, compared to expectations for a 0.1% decline.
Producer prices rose by 0.2% in September.
Year-over-year, the producer price index rose at an annualized rate of 2.6% in October, above expectations for a 2.5% gain, after climbing at a rate of 2.7% in September.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.11% to trade at 1.3069.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 rose 0.6%, France's CAC 40 climbed 0.75%, Germany's DAX gained 0.2%, while London’s FTSE 100 advanced 0.15%.