Eurozone annual PPI slumped to -1.2% in September as expected

• Annual PPI in the eurozone dropped to -1.2% in September.
• The EUR/USD pair largely ignored the data and continues to trade above 1.11.

According to the data published by the Eurostat on Tuesday, the Producer Price Index (PPI) in the eurozone slumped to -1.2% on a yearly basis in September from -0.8 in August and matched analysts’ estimates. On a monthly basis, the PPI arrived at +0.1% following August’s decline of 0.5%.

The shared currency’s reaction to the data was muted and the EUR/USD pair was last seen trading at 1.1128, where it was virtually unchanged on a daily basis.