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Financial News: Austria Producer Prices Continue To Fall In March

Austria Producer Prices Continue To Fall In March

04/30/2020 - 07:06:00 (RTTNews)

(RTTNews) - Austria's producer prices continued to declined for the tenth straight month in March, figures from Statistics Austria showed on Thursday.

The producer price index declined 1.5 percent year-on-year in March, following a 0.7 percent fall in February.

The decline in producer prices was mainly driven by a fall in energy prices and intermediate goods by 5.2 percent and 2.3 percent, respectively.

Meanwhile, prices for capital goods rose 0.9 percent in March and those for consumer goods increased 2.1 percent.

On a monthly basis, producer prices fell 0.9 percent in March, following a 0.4 percent decrease in the preceding month.

The producer prices fell 0.9 percent annually in the first quarter, following a 1.1 percent decline in the fourth quarter.

Prices declined at a faster pace in the first quarter due to the COVID-19 crisis, the agency said.

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