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Financial News: Eurozone Producer Price Inflation Eases To 5-Month Low

Eurozone Producer Price Inflation Eases To 5-Month Low

07/04/2017 - 05:17:00 (RTTNews)

(RTTNews) - Eurozone producer prices increased at the weakest pace so far this year in May, largely due to slowing energy price inflation, Eurostat reported Tuesday.

Producer prices climbed 3.3 percent year-on-year in May, slower than the 4.3 percent rise seen in April. This was the weakest growth since December 2016, when prices were up 1.6 percent, and also slower than the expected 3.5 percent.

Excluding energy, producer price inflation eased to 2.4 percent from 2.6 percent. Energy prices rose 5.7 percent versus prior month's 9 percent increase.

On a monthly basis, producer prices fell by more-than-expected 0.4 percent after staying flat in April. Prices were forecast to drop 0.2 percent.

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