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Financial News: Eurozone PPI Inflation Eases More Than Forecast

Eurozone PPI Inflation Eases More Than Forecast

11/04/2022 - 06:38:00 (RTTNews)

(RTTNews) - Eurozone producer price inflation eased more-than-expected in September from a fresh record high in August, data released by Eurostat showed on Friday.

Producer prices climbed 41.9 percent year-on-year in September, slower than the revised 43.4 percent surge in August. That was just below the 42.0 percent increase expected by economists.

The strong inflation in September was largely driven by a 108.2 percent jump in energy prices.

Excluding energy, producer price inflation eased slightly to 14.5 percent from 14.6 percent.

Prices for intermediate goods registered a sharp growth of 19.0 percent annually in September, and those for non-durable consumer goods gained 15.3 percent.

There was an increase of 7.6 percent and 9.8 percent in producer prices of capital goods and durable consumer goods, respectively.

On a monthly basis, producer prices increased at a slower rate of 1.6 percent, following a 5.0 percent rise in August.

Producer prices in the EU27 grew 41.4 percent yearly and by 1.5 percent monthly in September.

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