Mubasher: The Eurozone’s producer price inflation growth accelerated in January on a monthly basis, matching analysts’ forecasts.

Producer Price Index (PPI) grew by 0.4% in January, compared with a 0.1% increase in December, data by Eurostat showed on Friday.

On an annual basis, producer prices rose 1.5%, against expectations of a 1.6% rise, and compared with a 2.2% annual growth in December.

Total prices’ increase monthly gain was mainly driven by higher intermediate and capital goods’ prices.

By 10:29 am GMT, the EUR/USD pair climbed by 0.19% to $1.2290.