Eurozone producer prices fall more than market estimates in March

Producer prices decrease 7.8% from a year earlier in March, official data shows

By Tuba Ongun

Eurozone industrial producer prices dropped more than market forecast in March, according to data released on Monday.

Producer prices decreased 7.8% from last year in March, after February's revised 8.5% decline, Eurostat data showed.

The market expected industrial producer inflation to come in at minus 7.7% in the month.

Energy costs dove 20% year-on-year in March, easing from 21.3% decrease in February.

In the EU, industrial producer prices went down 7.6% annually in March.

On a monthly basis, industrial producer prices in March edged down 0.4% in the euro area and 0.5% 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.

Kaynak:

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