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EUROZONE DATA: PPI In-Line with Consensus

EUROZONE DATA
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Eurozone PPI in October printed in-line with consensus again at -3.2% Y/Y (-3.4% prior) and 0.4% M/M (vs -0.6% prior). This is the eighteenth consecutive month of deflation. 

  • The in-line reading was driven by Y/Y increases in four out of the five sub-components (some less negative and some more positive). The only exception was capital goods which remained stable at 1.3% Y/Y.
  • Energy producer prices fell at a slower pace of 11.2% Y/Y (vs -11.5% in September) with monthly prices rising 1.4% M/M (vs a fall of 1.9% in September).
  • Intermediate goods producer prices also fell at a slower pace of 0.5% Y/Y (vs -0.8% in September) - the lowest rate of decline in 2024 so far.
  • Durable consumer goods prices rose 0.7% Y/Y (vs 0.5% prior) - the fastest growth rate since June 2024.
  • Non-durable consumer goods also increased 1.8% Y/Y (vs 1.5% prior) - the second highest reading of 2024.

 

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Eurozone PPI in October printed in-line with consensus again at -3.2% Y/Y (-3.4% prior) and 0.4% M/M (vs -0.6% prior). This is the eighteenth consecutive month of deflation. 

  • The in-line reading was driven by Y/Y increases in four out of the five sub-components (some less negative and some more positive). The only exception was capital goods which remained stable at 1.3% Y/Y.
  • Energy producer prices fell at a slower pace of 11.2% Y/Y (vs -11.5% in September) with monthly prices rising 1.4% M/M (vs a fall of 1.9% in September).
  • Intermediate goods producer prices also fell at a slower pace of 0.5% Y/Y (vs -0.8% in September) - the lowest rate of decline in 2024 so far.
  • Durable consumer goods prices rose 0.7% Y/Y (vs 0.5% prior) - the fastest growth rate since June 2024.
  • Non-durable consumer goods also increased 1.8% Y/Y (vs 1.5% prior) - the second highest reading of 2024.