Euro area annual PPI rises to 21.9%, Unemployment Rate declines to 7.3% in October

• Annual PPI for the euro area jumped above 20% in October.
• Unemployment Rate in the euro area declined to 7.3% as expected.  

Producer Price Index in the euro area increased by 5.4% on a monthly basis in October and brought the annual rate up to 21.9% from 16.1% in September. Both of these readings came in stronger than analysts' estimates. In the EU, PPI was up 5% and 21.7% on a monthly and yearly basis, respectively.

Other data from the euro area showed that the Unemployment Rate declined to 7.3% from 7.4% in September, as expected.

Market reaction

The EUR/USD pair edged slightly higher after these data and was last seen posting small daily gains at 1.1330.