France’s producer prices continued the declining trend in February, figures from the statistical office INSEE revealed Tuesday.
Producer prices for the French market dropped 2.6 percent annually. In January, they declined 3.3 percent.
Month-on-month, domestic market producer prices rose 0.7 percent, ending three months of decline, mainly driven by a rebound in energy prices. In January, prices fell 1 percent, revised from 0.9 percent reported earlier.
Boosted by the depreciation of the euro against the dollar, energy prices rose sharply in February. Prices for refined petroleum products jumped 13.1 percent monthly after a 12.6 percent slump in the previous month, led by significantly higher Brent crude prices.
Overall producer prices declined 1.9 percent annually in February. However, they rose 0.8 percent from January, when they decreased 0.9 percent.
Producer prices for the foreign markets edged up 0.1 percent annually. They climbed 0.8 percent monthly, recovering from a 0.3 percent fall in January.
Import prices dropped 5.2 percent annually. They rose 1.5 percent month-on-month after a 1.8 percent slump, driven by a 20.3 percent surge in prices for petroleum products.
The material has been provided by InstaForex Company – www.instaforex.com