Eurozone Producer Prices Continue To Fall

(RTTNews) - Eurozone producer prices continued to fall in January due to the sharp fall in energy prices, Eurostat reported Wednesday.

Producer prices logged an annual fall of 2.1 percent in January, following December's 2.0 percent decrease. Economists had forecast a 2.7 percent drop. Meanwhile, excluding energy, producer prices grew at a faster pace of 1.2 percent after an increase of 1.0 percent in December. Among components of producer price index, only energy prices declined in January, which was down by 8.9 percent from the last year. Partially offsetting this fall, durable consumer goods prices moved up 2.2 percent and capital goods prices rose 1.6 percent.

Prices of intermediate goods and non-durable consumer goods grew 1.5 percent and 0.5 percent, respectively.

On a monthly basis, producer prices increased 0.7 percent in January, in contrast to the 0.3 percent drop in December. Prices were expected to gain moderately by 0.2 percent.