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Financial News: Eurozone Producer Prices Fall Most In 3 Years

Eurozone Producer Prices Fall Most In 3 Years

11/05/2019 - 06:07:00 (RTTNews)

(RTTNews) - Eurozone's producer prices declined for the second straight month in September to the lowest level in three years, data from Eurostat showed on Tuesday.

The producer price index fell 1.2 percent year-on-year in September, following a 0.8 percent decline in August. That was in line with economists' expectation.

The latest decline was the biggest since September 2016, when prices fell 1.3 percent.

Prices for durable consumer goods grew 1.6 percent annually in September, and those of capital goods and non-durable consumer goods rose by 1.5 percent and 1.1 percent, respectively.

Energy prices declined the most by 6.1 percent and intermediate goods fell 0.7 percent.

Excluding energy prices, producer price inflation slowed to 0.4 percent from 0.5 percent in the preceding month.

On a monthly basis, producer prices edged up 0.1 percent in September, after a 0.5 percent fall in the previous month. That was in line with economists' expectation.

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