12/2/2020, 11:01 AM (Source: TeleTrader)
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Eurozone producer prices up 0.4% in October

Industrial producer prices in the euro area rose by 0.4% in October compared to the month prior, topping analysts' expectations, Eurostat said in a report published on Wednesday. In the whole European Union (EU27), the figure increased by 0.3% on a monthly basis. Meanwhile, industrial producer prices declined by 2% year-over-year in both the Eurozone and the EU.

The growth in the Eurozone was led by a monthly increase of 1.4% in the energy sector and a rise of 0.1% month-on-month in intermediate goods, capital goods and non-durable consumer goods sectors. However, energy sector prices sank 7.6% on an annual basis, while intermediate goods prices fell 1.3% year-over-year.

The sharpest monthly increases in industrial producer prices were recorded in Belgium (3.7%), Ireland (2.1%) and Croatia (1.1%), while Denmark recorded a drop of 2.4% from October 2019.

Breaking the News / GA