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Euro zone PPI rises 0.5% in February

Published 04/07/2015, 05:02 AM
Updated 04/07/2015, 05:02 AM
© Reuters. Euro zone producer prices rise 0.5% in February

Investing.com - Producer price inflation in the euro zone rose for the first time in five months in February, easing concerns over the threat of deflation, official data showed on Tuesday.

In a report, Eurostat said that its producer price increased by a seasonally adjusted 0.5% in February, compared to expectations for a gain of 0.1%. Producer prices fell 1.1% in January, whose figure was revised from a previously reported decline of 0.9%.

Year-over-year, the producer price index declined at an annualized rate of 2.8% in February, compared to forecasts for a drop of 3.0%. Prices fell at a rate of 3.5% in January.

EUR/USD was trading at 1.0853 from around 1.0849 ahead of the release of the data, while EUR/GBP was at 0.7310 from 0.7308 earlier.

Meanwhile, European stock markets remained broadly higher. The EURO STOXX 50 rose 1%, France’s CAC 40 advanced 1.25%, Germany's DAX tacked on 0.95%, while London’s FTSE 100 rallied 1.2%.

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