Investing.com - Producer price inflation in the euro zone fell for the fifth consecutive month in May, underlining concerns over deflation, official data showed on Wednesday.
In a report, Eurostat said that its producer price index eased down by a seasonally adjusted 0.1% in May, in line with expectations. Producer prices inched down 0.1% in April.
Year-over-year, the producer price index declined at an annualized rate of 1% in May, meeting forecasts and after falling at a rate of 1.2% in April.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.17% to trade at 1.3656.
Meanwhile, European stock markets remained mixed. The DJ Euro Stoxx 50 rose 0.15%, France’s CAC 40 dipped 0.1%, Germany''s DAX tacked on 0.25%, while London’s FTSE 100 inched up 0.1%.
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