Euro zone: Stronger than expected drop in producer prices in February

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(Reuters) – Euro zone producer prices fell more sharply than expected in February on a monthly basis but the decline in energy prices slowed over a month, data released by Eurostat on Tuesday showed.

Producer prices in the monetary bloc fell by 0.5% month-on-month, but still rose by 13.2% over one year. In January, they fell by 2.8% over one month and decelerated to 15.1% over one year (revised figure from 15.0%).

Economists polled by Reuters had forecast prices for February falling 0.3% month on month and a further slowdown in the rise to 13.3% year on year.

Excluding energy, producer prices in February rose by 0.2% over one month and by 10.2% on an annual basis.

Energy prices in the euro zone fell by 1.6% in February, after a decline of 9.2% in January, but over one year they were still up by 17.4% in February.


(Written by Claude Chendjou, edited by Kate Entringer)

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