Financial News: Eurozone Producer Price Inflation Eases Notably

Eurozone Producer Price Inflation Eases Notably

03/03/2023 - 08:08:00 (RTTNews)

(RTTNews) - Eurozone producer price inflation slowed notably in January on easing energy price growth, data from Eurostat showed on Friday.

Producer prices posted an annual increase of 15.0 percent in January after a 24.5 percent surge in December. Prices were forecast to gain 17.7 percent.

However, excluding energy, producer price inflation slowed only moderately to 11.1 percent from 12.4 percent.

Energy prices increased 20.5 percent annually, following December's 48.5 percent increase. Intermediate goods prices were up 11.3 percent, but weaker than the 13.7 percent rise a month ago.

The increase in capital goods prices eased to 7.3 percent from 7.5 percent. Durable consumer goods gained 9.0 percent, after a 9.7 percent rise. Likewise, non-durable consumer goods prices grew 15.4 percent compared to 15.7 percent a month ago.

On a monthly basis, producer prices declined 2.8 percent in January due to 9.4 percent fall in energy prices, data showed. Economists had forecast prices to fall 0.3 percent after a 1.1 percent rise in December.

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