Eurozone producer inflation falls to over 2-year low in April

By Tuba Ongun

ANKARA (AA) - Cooling for the eighth consecutive month, annual producer inflation in the euro area slipped to 27-month low in April, according to official data released on Monday.

Industrial producer prices rose 1% year-on-year in April, at the lowest rate since January 2021, and slowed from a downwardly revised 5.5% increase in March, Eurostat said.

The decrease was led by energy sector as prices dropped 8.9% from a year ago in April.

Excluding energy, producer price inflation came in at 5.1% in April.

On a monthly basis, industrial producer prices posted a record decline of 3.2% in April.

Producer inflation in the EU also eased to 2.3% in April, down from 6.7% in March.

The largest annual hikes in industrial producer prices were seen in Hungary (41.7%), Latvia (22.7%) and Slovakia (18.2%).

The largest decreases were registered in Ireland (21.4%), Greece (13.1%) and Belgium (6.8%).