In a report, Eurostat said that its producer price index eased down by a seasonally adjusted 0.2% in December, in line with expectations.
Producer prices fell by 0.2% in November.
Year-over-year, the producer price index rose at an annualized rate of 2.1% in December, in line with expectations, after climbing at a rate of 2.1% in November.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD dipping 0.4% to trade at 1.3586.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 retreated 0.2%, France's CAC 40 declined 0.15%, Germany's DAX fell 0.1%, while London’s FTSE 100 shed 0.35%.