European markets set for lower open ahead of another key U.S. inflation reading

European markets are set to open lower on Thursday as investors await the release of the U.S. producer price index (PPI) for February. Economists forecast an increase of 0.3% for the headline PPI, or 0.2% excluding food and energy prices. The PPI report is the last major economic data before the U.S. Federal Reserve’s next policy meeting on March 19-20. U.S. stock futures rose slightly on Wednesday night, while Asia-Pacific markets remained range-bound, with attention on Japan’s spring wage negotiations and India’s wholesale inflation data.