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EZ MAR PPI +1.1% M/M, +4.3% Y/Y; FEB +1.5% Y/Y

  • Annual producer price inflation jumped to 4.3% in Mar, slightly stronger than markets expected (Median: 4.2%)
  • This marks the third positive reading after 17 consecutive month of negative rates and the highest level since Oct 2018.
  • Mar's uptick was driven by a sharp increase in energy prices to the highest level since Nov 2018, up 10.3% in Mar after rising by 2.3% in Feb.
  • Intermediate goods prices rose 4.4%, its highest level since Nov 2011 and the third successive increase.
  • While capital goods prices accelerated to 1.1%, durable consumer goods inflation rose by 1.4% in Mar.
  • Prices for non-durable consumer goods rebounded to 0.4%, after falling by 0.4% in Feb.
  • Monthly PPI increased by 1.1% in Mar, following Feb's growth rate of 0.5%
  • Among the member states, the highest annual rates were recorded in Ireland (+21.2%), Belgium (+9.3%) and Estonia and the Netherlands (both at +7.5%), while the only decreased were seen in Cyprus (-3.0%) and Slovakia (-0.6%).

Source: Eurostat