He Eurozone Producer Price Index fell 0.2% month-on-month in May after falling by 1% in April, registering its seventh consecutive month of declines, according to Eurostat. The decline exceeded the market’s expectations of a 0.1% drop.
On an annual basis, producer prices fell by 4.2% after falling by 5.7% the previous month. The indicator has not stopped falling in the last thirteen months, specifically since April 2023. The decline has slightly accentuated the 4.1% drop expected by the consensus.
Euro reaction
The Euro has risen to fresh two-day highs at 1.0763 against the US Dollar following the services PMI data. Producer prices have not caused any major movement. At the time of writing, EUR/USD is trading at 1.0758, gaining 0.12% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
