Producer prices in the Eurozone decreased by 1.9% in May compared to the month before, Eurostat said in a report on Wednesday. In the European Union, the Producer Price Index (PPI) slid by 1.8% month-on-month.
On the annual basis, producer prices dropped by 1.5% in the euro area and by 0.5% in the EU.
The downward trend in industrial producer prices in the euro area and the bloc was principally caused by a monthly 5% decline in the energy sector, followed by 1% and 1.1% for intermediate goods respectively. The largest decreases were recorded in Ireland by 7.4%, Italy by 3.1%, and Finland by 3%.
