Investing.com - Producer price inflation in the euro zone rose in line with expectations in September, official data showed on Tuesday.
In a report, Eurostat said that its producer price index accelerated by a seasonally adjusted 0.2% in September, in line with expectations. Producer prices rose by 0.9% in August.
Year-over-year, the producer price index rose at an annualized rate of 2.7% in September, above expectations for a 2.6% gain, after climbing at a rate of 2.7% in August.
Following the release of the data, the euro was little changed against the U.S. dollar, with EUR/USD dipping 0.03% to trade at 1.2793.
Meanwhile, European stock markets were modestly higher. The EURO STOXX 50 rose 0.5%, France's CAC 40 added 0.6%, Germany's DAX gained 0.5%, while London’s FTSE 100 advanced 0.5%.
In a report, Eurostat said that its producer price index accelerated by a seasonally adjusted 0.2% in September, in line with expectations. Producer prices rose by 0.9% in August.
Year-over-year, the producer price index rose at an annualized rate of 2.7% in September, above expectations for a 2.6% gain, after climbing at a rate of 2.7% in August.
Following the release of the data, the euro was little changed against the U.S. dollar, with EUR/USD dipping 0.03% to trade at 1.2793.
Meanwhile, European stock markets were modestly higher. The EURO STOXX 50 rose 0.5%, France's CAC 40 added 0.6%, Germany's DAX gained 0.5%, while London’s FTSE 100 advanced 0.5%.