Financial News: Austria Producer Prices Decline Eases In November

Austria Producer Prices Decline Eases In November

12/30/2024 - 03:32:00 (RTTNews)

(RTTNews) - Austria's producer prices continued to decline in November, though at the slowest pace in four months, figures from Statistics Austria showed on Monday.

The producer price index dropped 2.0 percent year-over-year in November, slower than the 2.3 percent fall in October. Prices have been falling since July 2023.

The continued downward trend was largely driven by an 11.9 percent plunge in energy prices. Nonetheless, the rate of decrease softened from 12.7 percent in October.

Meanwhile, prices for intermediate goods rose 1.0 percent compared to last year. Similarly, costs for capital goods and consumer goods increased by 2.6 percent and 2.8 percent, respectively.

On a monthly basis, producer prices moved up 0.4 percent from October, when they rose by 0.3 percent.

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