Eurozone's producer prices fell by 0.3% in November compared to October, according to Eurostat's latest report on Friday. The Producer Price Index (PPI) decreased by 0.2% month-on-month in the European Union. Compared to November 2022, producer prices dropped 8.8% in the euro area and 8.1% in the EU.
Producer prices in the Eurozone fell by 0.8% and 0.5% on a monthly basis in the energy sector and the intermediate goods sector, respectively. Prices for capital goods and durable consumer goods both decreased by 0.1% month-to-month. Non-durable consumer goods prices remained stable. Prices in total industry excluding energy decreased by 0.2%.
Annually, the PPI plunged 23.7% for energy and 5.3% for intermediate goods. Prices increased by 3.1% and 3.4% for capital goods and durable consumer goods, respectively. Non-durable consumer goods also declined by 3.6%. Prices in total industry excluding energy decreased by 0.5% from November 2022.
