Forex Pros — Producer price inflation in the euro zone fell slightly more-than-expected in May, official data showed on Monday.
In a report, Eurostat said that its producer price index declined by 0.2% in May, after rising by 0.9% in April.
Analysts had expected the producer price index to decline by 0.1% in May.
Year-over-year, the index rose at an annualized rate of 6.2% in May, falling short of expectations for a 6.3% increase. The index rose at a rate of 6.7% in April.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD edging 0.07% higher to trade at 1.4536.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 slumped 0.1%, France’s CAC 40 dipped 0.05%, Germany’s DAX rose 0.15%, while the FTSE 100 gained 0.35%.
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