Investing.com - Producer price inflation in the euro zone declined more-than-expected in May, official data showed on Tuesday.
In a report, Eurostat said that its producer price index fell by a seasonally adjusted 0.5% in May, compared to expectations for a 0.3% decline.
Producer prices for April were revised up to a 0.1% gain from a previously reported flat reading.
Year-over-year, the producer price index rose at an annualized rate of 2.3% in May, below expectations for a 2.5% gain, after climbing at a rate of 2.6% in April.
Following the release of the data, the euro remained modestly higher against the U.S. dollar, with EUR/USD adding 0.17% to trade at 1.2598.
Meanwhile, European stock markets were higher. The EURO STOXX 50 rose 0.45%, France's CAC 40 edged up 0.25%, Germany's DAX gained 0.75%, while London’s FTSE 100 added 0.2%.
In a report, Eurostat said that its producer price index fell by a seasonally adjusted 0.5% in May, compared to expectations for a 0.3% decline.
Producer prices for April were revised up to a 0.1% gain from a previously reported flat reading.
Year-over-year, the producer price index rose at an annualized rate of 2.3% in May, below expectations for a 2.5% gain, after climbing at a rate of 2.6% in April.
Following the release of the data, the euro remained modestly higher against the U.S. dollar, with EUR/USD adding 0.17% to trade at 1.2598.
Meanwhile, European stock markets were higher. The EURO STOXX 50 rose 0.45%, France's CAC 40 edged up 0.25%, Germany's DAX gained 0.75%, while London’s FTSE 100 added 0.2%.