Producer inflation in the euro area fell from a record level
The European Statistical Office (Eurostat) has published the data of the Producer Price Index (PPI) for September of the European Union (EU) and the Eurozone.
Consequently, the PPI in the EU increased by 1.5% in September compared to the previous month and by 41.4% compared to September 2021.
In the Euro Zone, the PPI increased 1.6 percent monthly and 41.9 percent annually in September. Market expectations were for the PPI to rise 42 percent annually.
In August, the eurozone’s PPI rose 43.3 percent year on year, reaching the highest level since records began.
THE PPI INCREASED TO THE MAXIMUM IN SEPTEMBER
In that period, producer prices rose 108.2 percent in the energy sector and 19 percent in intermediate goods on an annual basis in the euro area.
Among EU countries, the PPI increased the most in Bulgaria at 78.2%, Hungary at 67.5%, and Romania at 62.9% year over year in September.
The annual PPI was determined to be 53 percent in Italy, 46.9 percent in Germany, 35.6 percent in Spain, and 28.5 percent in France. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
