Producer inflation in the euro area was 15 percent in January

The European Statistical Office (Eurostat) has published the PPI data for January for the European Union (EU) and the Eurozone. Consequently, while the EU PPI decreased by 2.2% in January compared to the previous month, it increased by 16.4% compared to January 2022.

In the euro zone, on the other hand, the PPI fell 2.8 percent monthly in January and rose 15 percent annually. Market expectations were that the PPI would decline 0.3 percent monthly and rise 17.7 percent annually.

BELOW EXPECTATIONS

The annual PPI in the euro area performed below expectations. In said period, producer prices in the Euro Zone increased by 20.5 percent annually in the energy sector.

Among EU countries, the PPI increased the most in Hungary at 64.6 percent, Latvia at 38.8 percent and Slovakia at 34.5 percent in January. The annual increase in the PPI was determined to be 18.3 percent in Germany and 17.9 percent in France. (AA)