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Financial News: Italy Producer Prices Fall Further

Italy Producer Prices Fall Further

03/08/2024 - 04:28:00 (RTTNews)

(RTTNews) - The annual decline in Italy's producer prices eased in January, data from the statistical office ISTAT showed on Friday.

Producer prices posted an annual decrease of 10.7 percent after a 16.0 percent drop in December. Producer prices have been falling since April 2023.

The slowdown in January is due to the prices of the energy sector, whose trend decline on the domestic market is scaled down due to the statistical effect deriving from the comparison with January 2023, when much greater reductions in prices in the sector were recorded, the agency said.

Prices in the domestic market were down 14.0 percent, and those in the foreign market decreased by 1.5 percent.

On a monthly basis, producer prices dropped 1.7 percent after a 1.0 percent decline in the previous month. This was the third successive monthly fall.

During the three months to January, industrial producer prices contracted 1.1 percent from the previous three months.

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