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Euro zone PPI unexpectedly flat in June

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Forexpros - Producer price inflation in the euro zone was unexpectedly flat in June, official data showed on Tuesday.

In a report, Eurostat said that its producer price index was flat in June, after falling by 0.2% in May.

Analysts had expected the producer price index to ease up 0.1% in June.

Year-over-year, the index rose at an annualized rate of 5.9% in June, broadly in line with market expectations, after rising at a rate of 6.2% in May.

Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD edging 0.32% lower to trade at 1.4204.

Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 slumped 0.3%, France's CAC 40 dipped 0.2%, Germany's DAX fell 0.5%, while the FTSE 100 declined 0.3%.

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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.

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