Financial News: Eurozone Producer Prices Fall 3.2%

Eurozone Producer Prices Fall 3.2%

12/04/2024 - 06:35:00 (RTTNews)

(RTTNews) - Eurozone producer prices continued to decline in October due to cheaper energy prices, data from Eurostat showed Wednesday.

Producer prices registered an annual fall of 3.2 percent after a 3.4 percent decrease in September.

Among major components of producer prices, energy posted the biggest annual fall of 11.2 percent, and prices of intermediate goods dropped 0.5 percent.

Meanwhile, capital goods and non-durable consumer goods prices grew 1.3 percent and 1.8 percent, respectively. Durable consumer goods moved up 0.7 percent.

Excluding energy, producer price inflation rose to 0.8 percent from 0.6 percent.

On a monthly basis, the producer price index rebounded 0.4 percent, following a 0.6 percent decrease in September. Economists had also forecast a 0.4 percent increase.

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