Investing.com – German producer price inflation rose broadly in line with market expectations in June, official data showed on Wednesday.
In a report, Destatis, Germany's statistics office said that its producer price index rose by a widely expected 0.1% in June, after posting a flat reading in May.
Year-over-year, German producer price index rose at an annualized rate of 5.6% in June, after advancing at a rate of 6.1% in May. Analysts expected year-on-year PPI to rise at an annualized rate of 5.5%.
Following the release of the data the euro was slightly lower against the U.S. dollar, with EUR/USD easing down 0.05% to trade at 1.4149.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.25%, France’s CAC 40 futures indicated an increase of 0.2%, Germany's DAX futures added 0.4%, while the FTSE 100 futures rose 0.35%.
In a report, Destatis, Germany's statistics office said that its producer price index rose by a widely expected 0.1% in June, after posting a flat reading in May.
Year-over-year, German producer price index rose at an annualized rate of 5.6% in June, after advancing at a rate of 6.1% in May. Analysts expected year-on-year PPI to rise at an annualized rate of 5.5%.
Following the release of the data the euro was slightly lower against the U.S. dollar, with EUR/USD easing down 0.05% to trade at 1.4149.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.25%, France’s CAC 40 futures indicated an increase of 0.2%, Germany's DAX futures added 0.4%, while the FTSE 100 futures rose 0.35%.