Investing.com - Producer price inflation in the euro zone rose more-than-expected in August, official data showed on Tuesday.
In a report, Eurostat said that its producer price index accelerated by a seasonally adjusted 0.9% in August, above expectations for a 0.5% increase.
Producer prices rose by 0.3% in July, downwardly revised from a 0.4% increase.
Year-over-year, the producer price index rose at an annualized rate of 2.7% in August, above expectations for a 2.6% gain, after climbing at a rate of 1.6% in July.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.2% to trade at 1.2915.
Meanwhile, European stock markets were modestly higher. The EURO STOXX 50 rose 0.4%, France's CAC 40 eased up 0.05%, Germany's DAX added 0.4%, while London’s FTSE 100 was little changed.
In a report, Eurostat said that its producer price index accelerated by a seasonally adjusted 0.9% in August, above expectations for a 0.5% increase.
Producer prices rose by 0.3% in July, downwardly revised from a 0.4% increase.
Year-over-year, the producer price index rose at an annualized rate of 2.7% in August, above expectations for a 2.6% gain, after climbing at a rate of 1.6% in July.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.2% to trade at 1.2915.
Meanwhile, European stock markets were modestly higher. The EURO STOXX 50 rose 0.4%, France's CAC 40 eased up 0.05%, Germany's DAX added 0.4%, while London’s FTSE 100 was little changed.