Eurozone Producer Inflation Eases to 17-Month Low
Industrial producer prices rose 13.2% from a year ago in February, down from a revised 15.1% annual hike in January, Eurostat said.
Costs increased at a slower pace for energy (17.4% in February versus 20.7% in January) as well as intermediate goods (9.3%), durable goods (8.7%), and non-durable consumer goods (15.2%).
Industrial producer prices in the euro area in February 2023, compared with February 2022, rose 17.4% in the energy sector, 15.2% for non-durable consumer goods, 9.3% for intermediate goods, 8.7% for durable consumer goods, and 7.3% for capital goods.
Excluding energy, producer price inflation cooled to 10.2% in February, down from 11.1% in January.
Producer inflation in the EU also fell to 14.5% in February.
Prices rose in all member states, with the largest yearly hike seen in Hungary (56.1%), Latvia (37.4%), and Slovakia (33.8%).
On a monthly basis, industrial producer prices fell 0.5% in the euro area and 0.6% in the EU in February.
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