Eurostat released its producer price index for the Eurozone on Tuesday. Eurozone's producer price index declined 0.8% in December, missing expectations for a 0.6% fall, after a 0.2% decrease in November.

Intermediate goods prices fell 0.3% in December, capital goods prices were flat, non-durable consumer goods prices declined 0.1%, and durable consumer goods prices were stable, while energy prices decreased 2.7%.

On a yearly basis, Eurozone's producer price index dropped 3.0% in December, missing expectations for a 2.8% decrease, after a 3.2% fall in November.

Eurozone's producer prices excluding energy fell 0.7% year-on-year in December. Energy prices dropped at an annual rate of 9.0%.