12/2/2022, 11:03 AM (Source: TeleTrader)
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Producer prices in euro area down by 2.9% in October

Producer prices in the Eurozone went down by 2.9% in October compared to the past month, more than analysts predicted, the European Commission's statistical office Eurostat stated in its report published on Friday. In the European Union, the figure declined by 2.5%. On an annual level, the prices surged by 30.8% in the euro area and 31.2% in the EU.

Compared to September, the prices in the energy sector declined by 6.9% in the Eurozone and 6.6% in the EU. Those of intermediate goods increased by 0.2% in the euro area and 0.3% in the EU. Capital goods rose by 0.3% in both the Eurozone and the political bloc. Durable consumer goods advanced by 0.5% in the euro area and 0.5% in the EU, while non-durable goods went up by 1.1% in the former and 1.2% in the latter zone.

The largest decreases in producer prices of negative 32.5%, negative 8.8% and negative 5.5% were observed in Ireland, Bulgaria, and Denmark, respectively. The highest increases were noted in Greece, Hungary and Belgium, which saw respective rises of 9.6%, 6.2% and 2.8%.

Baha Breaking News (BBN) / JR