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Financial News: Eurozone Producer Price Inflation Rises In February

Eurozone Producer Price Inflation Rises In February

04/08/2021 - 08:20:00 (RTTNews)

(RTTNews) - Eurozone producer prices increased at a faster pace in February, data from Eurostat showed on Thursday.

Producer prices rose 1.5 percent year-on-year, following January's 0.4 percent increase. Economists had forecast producer price inflation to climb to 1.4 percent.

On a monthly basis, producer prices gained 0.5 percent, but slower than the 1.7 percent increase posted in January. Prices were expected to rise 0.6 percent.

Excluding energy, producer price inflation advanced to 1.2 percent annually in February from 0.7 percent in January.

Prices of intermediate goods grew 2.4 percent and that of energy rose 2.3 percent. Capital goods prices moved up 0.9 percent and durable consumer goods prices by 1.2 percent. By contrast, non-durable consumer goods prices fell 0.4 percent.

Producer prices in EU climbed 0.7 percent on month and by 1.7 percent annually in February.

Another report from Eurostat showed that house prices in the Eurozone logged its biggest annual growth since the fourth quarter of 2006. House prices advanced 5.4 percent on year in the fourth quarter after rising 4.9 percent in the third quarter. On a quarterly basis, house price inflation rose marginally to 1.4 percent in the fourth quarter from 1.3 percent in the preceding quarter.

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