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Financial News: Eurozone Producer Prices Decline At Faster Pace

Eurozone Producer Prices Decline At Faster Pace

05/05/2020 - 08:15:00 (RTTNews)

(RTTNews) - Eurozone producer prices declined at a faster pace in March due to a sharp fall in energy prices, data from Eurostat showed Tuesday.

Producer prices decreased 2.8 percent year-on-year in March, faster than the 1.4 percent decrease in February.

On a monthly basis, producer prices fell 1.5 percent after easing 0.7 percent in February. This was the second consecutive drop in prices.

Data showed an 11.3 percent annual fall in energy prices. Intermediate goods prices were down 1.8 percent. Meanwhile, non-durable consumer goods prices advanced 2.4 percent and capital goods cost moved up 1.1 percent. Durable consumer goods prices increased 1.3 percent.

In EU27, producer prices decreased 1.4 percent on month and declined 2.5 percent on a yearly basis in March.

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