Eurozone producer prices continued to fall in October on weak energy prices, data from Eurostat revealed Wednesday.
Producer prices decreased 2 percent year-on-year in October but slower than the 2.3 percent fall in September. This was also slower than the 2.4 percent decrease economists’ had forecast.
Excluding energy, producer prices dropped only 0.2 percent after easing 0.3 percent a month ago.
Prices of energy had dropped 7.6 percent annually and that of intermediate goods slid 1.3 percent.
Partially offsetting these falls, durable consumer goods prices rose 1.2 percent and capital goods prices grew 0.8 percent. Non-durable consumer goods prices edged up 0.1 percent.
Month-on-month, producer prices logged a steady growth of 0.4 percent in October. Prices were expected to gain 0.2 percent.
In the EU27, producer prices climbed 0.3 percent on month but decreased 2 percent from the same period last year.
The material has been provided by InstaForex Company – www.instaforex.com
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