Financial News: Eurozone Producer Prices Decline In September

Eurozone Producer Prices Decline In September

11/06/2024 - 11:00:00 (RTTNews)

(RTTNews) - Producer prices in the euro area fell on a monthly basis for the first time in four months in September amid a slump in energy prices, figures from the statistical office Eurostat showed on Wednesday.

Producer prices in the domestic market decreased 0.6 percent month-on-month, reversing a similar size gain in the previous month. This was the first decline since May. Prices excluding energy were unchanged from the previous month when they edged up 0.1 percent.

Energy prices decreased 1.9 percent, which was the first fall since May. Capital goods prices slid 0.1 percent. Intermediate goods prices were unchanged.

Both durable and non-durable consumer goods prices rose 0.2 percent after remaining flat in the previous month.

Producer prices shrunk 3.4 percent on a year-on-year basis, extending the declining trend seen over the past several months. In August, prices declined 2.3 percent. In the EU, producer prices fell 0.6 percent from the previous month and 3.3 percent from a year ago.

Among the EU member states, the steepest monthly decrease in industrial producer prices was recorded in Estonia, while the biggest increase was observed in Ireland.

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