Eurozone producer prices declined as expected in March, figures from Eurostat showed Tuesday.
The producer price index fell 2.3 percent year-over-year in March, slower than previous month’s 2.8 percent decrease. The figure was also matched with economists’ expectations.
Excluding energy, producer prices dropped 0.5 percent in March from the previous year and energy prices alone plunged by 6.8 percent.
Intermediate goods prices slid 1.3 percent in March and that for non-durable consumer goods dipped by 0.9 percent. At the same time, capital goods prices and durable consumer goods prices rose 0.7 percent and 1.0 percent, respectively.
On a monthly basis, producer prices increased at a slower pace of 0.2 percent in March, following a 0.6 percent climb in February, which was revised up from a 0.5 percent hike. It was expected to rise by 0.3 percent.
The highest monthly decreases in industrial producer prices were registered in Cyprus, Denmark and Latvia, while the largest increases were observed in Ireland, Belgium and Croatia.
The material has been provided by InstaForex Company – www.instaforex.com