Producer prices in eurozone decrease 5.7% in April

By Tuba Ongun

Eurozone industrial producer prices in April dropped at a slower pace compared to a month ago, according to data released on Wednesday.

Producer prices decreased 5.7% from last year in April, easing from March's 7.8% decline, Eurostat data showed.

Energy costs plunged 14.7% at an annualized pace in April, easing from 20.3% in the prior month.

In the EU, industrial producer prices fell 5.5% annually in April.

On a monthly basis, industrial producer prices in April slipped 1% in the euro area and 0.7% 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.