Euro area producer prices fall in March as energy prices continue to retreat
By Alexander Bueso
Date: Thursday 04 May 2023
(Sharecast News) - Factory gate prices in the euro area fell back by more than expected at the end of the first quarter, amid a decline in energy prices.
According to Eurostat, producer prices in the single currency bloc fell at a month-on-month pace of 1.6% in March, as energy prices retreated by 4.8%.
In annual terms, producer prices advanced at a clip of 5.9%, versus a rise of 13.3% during the previous month.
Energy prices meanwhile were up by 0.7% year-on-year following a 17.6% gain during the previous month.
Aside from intermediate goods inflation, which fell by 0.4% on the month, prices rose in all other categories.
Prices for non-durable consumer goods increased by the most, up by 0.9%, while those of durable consumer goods rose by 0.3%.
Capital goods prices were 0.2% higher.
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