Investing.com - Producer price inflation in the euro zone inched down in November, defying expectations for small increase, official data showed on Monday.
In a report, Eurostat said that its producer price index eased down by a seasonally adjusted 0.2% in November, compared to expectations for a 0.1% increase.
Producer prices rose by 0.1% in October.
Year-over-year, the producer price index rose at an annualized rate of 2.1% in November, below expectations for a 2.4% gain, after climbing at a rate of 2.6% in October.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD dipping 0.25% to trade at 1.3036.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 retreated 0.3%, France's CAC 40 declined 0.5%, Germany's DAX fell 0.5%, while London's FTSE 100 shed 0.25%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.