Investing.com - Producer price inflation in the euro zone fell more than expected in February, fueling concerns over deflation, official data showed on Wednesday.
In a report, Eurostat said that its producer price index eased down by a seasonally adjusted 0.2% in February, compared to expectations for a 0.1% decline. Producer prices inched down 0.3% in January.
Year-over-year, the producer price index declined at an annualized rate of 1.7% in February, compared to expectations for a 1.6% drop, after falling at a rate of 1.4% in November.
Following the release of the data, the euro was lower against the U.S. dollar, with EUR/USD shedding 0.04% to trade at 1.3788.
Meanwhile, European stock markets were mixed. The DJ Euro Stoxx 50 rose 0.1%, France''s CAC 40 dipped 0.1%, Germany''s DAX picked up 0.25%, while London’s FTSE 100 advanced 0.1%.