Eurozone producer prices plunge fastest on record in September

By Tuba Ongun

Eurozone industrial producer prices fell annually at the steepest pace on record in September, according to data released on Tuesday.

Producer prices decreased year-on-year for the fifth consecutive month in September, diving 12.4%, Eurostat data showed.

The slump was mainly led by a significant decline in energy prices with 31.3% from last year in September. Prices for intermediate goods dropped 4.8% during the same period.

Prices increased by 3.9% for capital goods, by 4.3% for durable consumer goods and by 5.5% for non-durable consumer goods.

Excluding energy, prices in total industry grew by 0.5% from a year earlier in September.

In the EU, industrial producer prices plunged 11.2% on an annual basis in September, accelerating from a 10.5% fall in August.

On a monthly basis, industrial producer prices in September rose by 0.5% in the euro area and by 0.6% in the EU.