The German producer prices fell 0.3% m/m in February, moderating the decline of 0.5% expected. The January figure was revised down from -1% to -1.2%. This is the fifth consecutive month of declines in the indicator published by Destatis.
At an annual level, the producer price index increased by 15.8%, above the 12.4% expected by the consensus. The data for January was revised downward, from the previous 17.8% to the current 17.6%. That of February is the most moderate rise recorded by the indicator since September 2021.
EUR/USD reaction
He EUR/USD it has fallen more than 20 pips after the data, falling to the 1.0640 zone and posting fresh daily lows. Previously, in the Asian session, the pair had risen to 1.0690, a new three-day high. At time of writing, the euro is trading against the dollar at 1.0647, losing 0.18% daily.
Source: Fx Street
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