Euro zone producer prices edge higher in Sept, as expected
Euro zone producer prices edged higher month-on-month in September, as expected, pushed up by an increase in energy costs, but they were still lower than a year earlier, data showed on Wednesday.
The European Union’s statistics office Eurostat said prices at factory gates in the 19 countries sharing the euro rose 0.3% month-on-month for a 2.4% year-on-year decline, exactly in line with expectations of economists.
Producer prices give an early indication of trends in consumer prices, which the European Central Bank wants to grow below but close to 2% over the medium term, and which have been falling for the last three months.
Without the volatile energy component, producer prices were unchanged during the month and 0.3% lower than a year earlier.
Source: Reuters (Reporting by Jan Strupczewski; editing by Philip Blenkinsop)