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Financial News: Italy Producer Prices Fall Least In 13 Months

Italy Producer Prices Fall Least In 13 Months

06/27/2024 - 07:41:00 (RTTNews)

(RTTNews) - Italy's producer prices continued to decline in May, though at the slowest pace in just over a year, data from the statistical office ISTAT showed on Thursday.

Producer prices posted an annual decrease of 3.5 percent after a 5.9 percent drop in April.

Further, this was the slowest decline since April 2023, when prices had fallen only 1.5 percent.

The annual decline in March was largely driven by a 10.1 percent plunge in energy costs. Prices for intermediate goods were 3.9 percent lower. Meanwhile, costs for consumer goods grew by 1.0 percent.

Prices in the domestic market were down 4.9 percent, and those in the foreign market decreased by 0.8 percent.

On a monthly basis, producer prices rose 0.3 percent after a 0.9 percent decline in the previous month. In addition, this was the first increase in seven months.

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