Industrial Prices Growth in Eurozone Decelerated in March - 3.5.2012

The Eurostat reported today that producer prices index in the euro area increased in March by 0.5% compared with a 0.6% gain in February. The annualized growth pace dropped from 3.6% to 3.3%, below consensus estimate. The single currency accelerated losses versus the greenback, trading this morning at 1.3122-1.3162, before the European Central Bank announces its interest rate decision and determines response to spur economic growth.