Investing.com - Producer price inflation in the euro zone fell for the third consecutive month in March, underlining concerns over deflation, official data showed on Monday.
In a report, Eurostat said that its producer price index eased down by a seasonally adjusted 0.2% in March, in line with expectations. Producer prices inched down 0.2% in February.
Year-over-year, the producer price index declined at an annualized rate of 1.6% in March, compared to expectations for a 1.7% drop, after falling at a rate of 1.7% in February.
Following the release of the data, the euro held on to modest gains against the U.S. dollar, with EUR/USD easing up 0.05% to trade at 1.3876.
Meanwhile, European stock markets remained lower. The Euro Stoxx 50 fell 1.2%, France’s CAC 40 lost 1.2%, Germany''s DAX dropped 1.4%, while London’s FTSE 100 remained closed for a holiday.