Investing.com - German producer price inflation rose less-than-expected in February, official data showed on Tuesday.
In a report, Destatis, Germany's statistics office said that its producer price index rose by a seasonally adjusted 0.4% in February, below expectations for a 0.5% gain.
German PPI rose by 0.6% in January.
Year-on-year, German producer price index rose at an annualized rate of 3.2% in February, in line with expectations, after advancing at an annualized rate of 3.4% in January.
Following the release of the data the euro was fractionally lower against the U.S. dollar, with EUR/USD easing down 0.02% to trade at 1.3237.
Meanwhile, the outlook for European stock markets was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.25%, France’s CAC 40 futures indicated a decline of 0.3%, Germany's DAX futures shed 0.3%, while London’s FTSE 100 futures slipped 0.3%.
In a report, Destatis, Germany's statistics office said that its producer price index rose by a seasonally adjusted 0.4% in February, below expectations for a 0.5% gain.
German PPI rose by 0.6% in January.
Year-on-year, German producer price index rose at an annualized rate of 3.2% in February, in line with expectations, after advancing at an annualized rate of 3.4% in January.
Following the release of the data the euro was fractionally lower against the U.S. dollar, with EUR/USD easing down 0.02% to trade at 1.3237.
Meanwhile, the outlook for European stock markets was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.25%, France’s CAC 40 futures indicated a decline of 0.3%, Germany's DAX futures shed 0.3%, while London’s FTSE 100 futures slipped 0.3%.