Eurostat’s producer price index showed strong easing trends in industrial goods inflation on a year-on-year basis, although rising energy costs pushed the index up slightly on a monthly basis.
In particular, the producer price index in the eurozone moved to -12.4% annually in September, while compared to August prices showed an increase of 0.5%.
At European Union level, producer prices decreased by 11.2% from last year, but increased by 0.6% from last month.
The monthly increase in the eurozone was driven by a 2.2% rise in the energy sector, while elsewhere in the index, prices were flat in capital and consumer durables, while falling by 0.2% in both intermediates and non-durables. durable goods.
Excluding energy in general, in the structural part of the index, industrial prices fell 0.1% on a monthly basis.
On an annual basis, energy prices fell by a beastly 31.3% and by 4.8% in intermediate goods, while they rose by 3.9% year-on-year in capital goods, by 4.3% in consumer durables and by 5.5% in non-durables.
By country, the largest annual declines in wholesale inflation were seen in Ireland by 38.9%, Bulgaria by 32% and Italy by 18.3%.
In contrast, in Luxembourg producer prices increased by 23.8% annually, in Hungary by 7.1% and in Slovenia by 3.1%.