Investing.com – German producer price inflation rose more-than-expected in December, official data showed on Thursday.
In a report, Destatis, Germany's statistics office said that its producer price index rose by 0.7% in December, after rising 0.2% in October.
Analysts had expected the index to rise by 0.5% in December.
The report showed that the producer price index rose at an annualized rate of 5.3% in December, after advancing by 4.4% in October. Analysts expected year-on-year PPI to rise by 4.9%.
Following the release of the data the euro was down against the U.S. dollar, with EUR/USD shedding 0.33% to hit 1.3428.
Meanwhile, European stock markets were modestly lower after the open. The EURO STOXX 50 shed 0.09%, France’s CAC 40 declined 0.03%, Germany's DAX was down 0.07%, while the FTSE 100 slid 0.21%.
In a report, Destatis, Germany's statistics office said that its producer price index rose by 0.7% in December, after rising 0.2% in October.
Analysts had expected the index to rise by 0.5% in December.
The report showed that the producer price index rose at an annualized rate of 5.3% in December, after advancing by 4.4% in October. Analysts expected year-on-year PPI to rise by 4.9%.
Following the release of the data the euro was down against the U.S. dollar, with EUR/USD shedding 0.33% to hit 1.3428.
Meanwhile, European stock markets were modestly lower after the open. The EURO STOXX 50 shed 0.09%, France’s CAC 40 declined 0.03%, Germany's DAX was down 0.07%, while the FTSE 100 slid 0.21%.