Eurozone producer prices fall at faster pace in February

By Tuba Ongun

Eurozone industrial producer prices fell at a faster pace in February, according to data released on Thursday.

Producer prices dropped 8.3% year-on-year in February, after a 8% decline in January, Eurostat data showed.

Energy costs plunged 21%, accelerating from September's 20% decline.

In the EU, industrial producer prices fell 8.1% at an annualized pace in February.

On a monthly basis, industrial producer prices in February went down 1% in the euro area and 0.9% in the 27-member EU bloc.

The eurozone/euro area, or EA19, represents member states that use the single currency – the euro – while the EU27 includes all member countries of the bloc.