Producer inflation in the euro area was 1 percent annually in April

The European Statistical Office (Eurostat) has released the PPI data for April for the European Union (EU) and the Eurozone.

According to the data, the PPI in the EU decreased by 2.9% in April compared to the previous month and increased by 2.3% compared to April 2022. In the Euro Zone, the PPI decreased by 3.2%. percent monthly in April, while it increased 1 percent annually.

The annual PPI performed below expectations. Market expectations were that the PPI in the euro zone would decrease by 3.1 percent per month and increase by 5.9 percent annually.

THE HIGHEST PPI IS IN HUNGARY

In the period in question, producer prices of non-durable consumer goods increased by 10.9% per year in the euro area.

Among EU countries, the PPI increased the most in Hungary at 41.7 percent, Latvia at 22.7 percent and Slovakia at 18.2 percent in April.

The annual increase in PPI was 4.8 percent in Germany and 7 percent in France. (AA)