Forexpros – Producer price inflation in the euro zone rose slightly less-than-expected in March, official data showed on Thursday.
In a report, Eurostat said that its producer price index accelerated by a seasonally adjusted 0.5% in March, just below expectations for a 0.6% increase.
Producer prices for February rose by 0.6%.
Year-over-year, the producer price index rose at an annualized rate of 3.3% in March, lower than expectations for a 3.4% gain, after climbing at a rate of 3.6% in February.
Following the release of the data, the euro held on to modest losses against the U.S. dollar, with EUR/USD easing down 0.13% to trade at 1.3141.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 1.05%, France’s CAC 40 rose 1%, Germany’s DAX advanced 1%, while London’s FTSE 100 added 0.45%.
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