Eurozone producer price inflation eased at a faster-than-expected pace in October, data from Eurostat showed Monday.
Producer prices climbed 2.5 percent year-over-year in October, slower than previous month’s 2.8 percent rise, which was revised down from a 2.9 percent increase reported earlier.
Economists had expected the PPI inflation to moderate to 2.6 percent.
Excluding energy, producer price inflation accelerated marginally to 2.3 percent from 2.2 percent.
On a monthly basis, producer prices went up 0.4 percent from September, when it grew by 0.5 percent, revised down from 0.6 percent. It was forecast to rise by 0.3 percent.
In the EU28, producer prices advanced 2.5 percent annually and by 0.4 percent monthly in October.
Industrial producer prices rose in all member states, with the largest increases recorded in Belgium, Bulgaria, Poland, Hungary and Ireland.
Source: RTT News