Investing.com - Producer price inflation in the euro zone rose for the first time in three months in September, easing concerns over the threat of deflation, official data showed on Tuesday.
In a report, Eurostat said that its producer price index inched up by a seasonally adjusted 0.2% in September, compared to expectations for an increase of 0.1%. Producer prices inched down 0.2% in August.
Year-over-year, the producer price index declined at an annualized rate of 1.4% in September, compared to forecasts for a drop of 1.5%. Prices fell at a rate of 1.4% in August.
EUR/USD was trading at 1.2510 from around 1.2511 ahead of the release of the data, while EUR/GBP was at 0.7821 from 0.7823 earlier.
Meanwhile, European stock markets remained higher. The DJ Euro Stoxx 50 rose 0.25%, France’s CAC 40 advanced 0.2%, Germany's DAX tacked on 0.45%, while London’s FTSE 100 inched up 0.15%.