Eurozone producer prices plunge further in October

By Tuba Ongun

Eurozone industrial producer prices fell on an annual basis for the sixth consecutive month in October, according to data released on Tuesday.

Producer prices dropped 9.4% from a year ago in October, following September's record fall of 12.4%, Eurostat data showed.

Energy costs slipped at a slower pace in October, 25%, compared to a 31.2% decline in September.

In the EU, industrial producer prices plunged 8.7% at an annualized pace in October.

On a monthly basis, industrial producer prices in October went down 0.2% both in the euro area and 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.