Eurozone producer prices decreased at a stable pace for the second straight month in November, in line with expectations, Eurostat reported Wednesday.
The producer price index fell 3.2 percent year-over-year in November, the same rate of decrease as in the previous month, which was revised from a 3.1 percent drop reported earlier. The figure was also matched with consensus estimate.
Excluding energy, producer prices slid 0.7 percent in November from a year ago. Energy prices alone plunged by 9.4 percent.
Similarly, prices for intermediate goods dipped 2.0 percent in November and that for non-durable consumer goods dropped by 0.3 percent.
At the same time, prices in the capital goods sector grew 0.6 percent and those of durable consumer goods sector climbed by 0.8 percent.
On a monthly basis, producer prices edged down 0.2 percent in November, slightly slower than October’s 0.3 percent fall, revised from 0.2 percent drop. It was also came in line with economists’ expectations.
The material has been provided by InstaForex Company – www.instaforex.com