Eurostat released its producer price index for the Eurozone on Wednesday. Eurozone's producer price index declined 0.3% in October, beating expectations for a 0.4% drop, after a 0.4% decrease in September. September's figure was revised down from a 0.3% fall.

Intermediate goods prices fell 0.4% in October, capital goods prices were flat, non-durable consumer goods prices declined 0.2%, and durable consumer goods prices were stable, while energy prices decreased 0.4%.

On a yearly basis, Eurozone's producer price index dropped 3.1% in October, beating expectations for a 3.2% decrease, after a 3.2% fall in September. September's figure was revised down from a 3.1% drop.

Eurozone's producer prices excluding energy fell 0.7% year-on-year in October. Energy prices dropped at an annual rate of 9.7%.