Eurozone producer prices fall at slowest pace in 11 months

Eurozone producer prices fall at slowest pace in 11 months

Industrial producer prices drop 4.2% year-on-year in May

By Tuba Ongun

Eurozone industrial producer prices in May fell at the slowest pace in 11 months, according to data released on Wednesday.

Producer prices dropped 4.2% year-on-year in May, marking the 13th consecutive month of decline, Eurostat data showed.

Energy costs dove 11.4% from a year earlier in May, the least since last April.

In the EU, industrial producer prices went down by 4% from last year in May.

On a monthly basis, industrial producer prices in May fell 0.3% in the euro area and 0.3% 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.

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