Forex Pros - Producer price inflation in the euro zone rose broadly in line with expectations in March, official data showed on Tuesday.
In a report, Eurostat said that its producer price index rose by 0.7% in March, after rising by 0.8% in February.
According to the data, the producer price index rose slightly more-than-expected, increasing at an annualized rate of 6.7% in March, after advancing at a rate of 6.6% in February. Analysts expected year-on-year PPI to rise at an annualized rate of 6.6%.
The report showed that among euro zone member states, the highest increases in prices were recorded in Denmark, Greece and Finland.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.15% to hit 1.4806.
Meanwhile, European stock markets were mixed. The FTSE 100 climbed 0.35%, the EURO STOXX 50 slipped 0.3%, France's CAC 40 shed 0.25%, while Germany's DAX was down 0.4%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.