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Financial News: Eurozone Producer Prices Continue To Fall In April

Eurozone Producer Prices Continue To Fall In April

06/05/2024 - 05:33:00 (RTTNews)

(RTTNews) - Eurozone producer prices continued to decline in April due to the sharp decrease in energy prices, data released by Eurostat showed on Wednesday.

Producer prices slid 5.7 percent on a yearly basis in April, weaker than the 7.8 percent drop in March. Prices were forecast to fall at a much slower pace of 5.1 percent.

Excluding energy, producer prices fell 1.0 percent after a 1.3 percent drop in the previous month, data showed.

Among major components, energy prices posted the biggest fall of 14.7 percent, followed by a 3.9 percent drop in intermediate goods prices.

On the other hand, capital goods prices grew 1.5 percent and durable consumer goods prices climbed 1.0 percent. Prices of non-durable consumer goods moved up 0.9 percent.

On a monthly basis, the decline in producer prices doubled to 1.0 percent from 0.5 percent in March. Economists had forecast a 0.6 percent decrease.

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