Forex Pros – ucer price inflation in the euro zone rose slightly more-than-expected in April, official data showed on Monday.
In a report, Eurostat said that its producer price index rose by 0.9% in April, after rising by 0.8% in March, whose figure was upwardly revised from 0.7%.
Analysts had expected the producer price index to rise by 0.8% in April.
Year-over-year, the index rose at an annualized rate of 6.7% in April, after climbing an upwardly revised 6.8% in March and surpassing expectations for a 6.6% gain.
The report showed that among euro zone member states, the highest increases in prices were recorded in Latvia, Denmark and Greece. The only decrease was observed in Sweden, while prices remained stable in Malta.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD edging 0.05% higher to trade at 1.4642.
Meanwhile, European stock markets were down. The EURO STOXX 50 slumped 0.5%, France’s CAC 40 fell 0.45%, Germany’s DAX shed 0.15%, while the FTSE 100 dipped 0.2%.
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