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Financial News: Eurozone Producer Prices Fall At Slower Pace

Eurozone Producer Prices Fall At Slower Pace

07/03/2024 - 05:28:00 (RTTNews)

(RTTNews) - Eurozone producer prices continued to decline in May but the pace of decrease softened as the decline in energy prices slowed further, data from Eurostat showed on Wednesday.

Producer prices posted an annual fall of 4.2 percent in May after a 5.7 percent decrease in April. Prices were expected to grow 4.1 percent.

Excluding energy, producer prices were down 0.4 percent, following April's 0.9 percent decrease. Among main industrial grouping, energy prices registered the biggest fall of 11.4 percent. However, this was slower than the 14.7 percent fall seen in April.

Prices of intermediate goods also decrease in May, down 2.9 percent. Meanwhile, prices of capital goods and non-durable consumer goods were up 1.6 percent and 1.1 percent, respectively. Durable consumer goods prices moved up 0.5 percent. On a monthly basis, the fall in producer prices slowed to 0.2 percent in May from 1.0 percent in April. Economists had forecast a marginal 0.1 percent fall.

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