Whilst there are several items on the calendar worth watching throughout both the European and US trading sessions today, one release of particular note will be the eurozone’s Producer Price Index. Due for release at 0830 GMT, the figure is expected to show month on month growth of around 0.7% in March; a figure which would see year on year growth 6.6%.
It is worth noting that the eurozone’s Producer Price Index has led the CPI figure in recent months. As input prices have continued to gain; with notable rises in the price of energy; producers have attempted to maintain their own margins by offsetting costs to the end consumer. Indeed, with recent PPI data showing year on year growth of 6.6%; up from 0.9 one year earlier; the sharp gains therein are clear.
The eurozone will be reporting on both CPI and PPI later this morning. Full details of each to follow.
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