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LONDON (MNI)
Eurozone producer prices rose sharply in April, with prices increasing at an annual rate of 7.6%, the highest level since 2008, Eurostat said Wednesday. In March, prices rose 4.3%. Just 6 months ago, in November, eurozone PPI stood at -2.0% y/y.
Higher factory gate prices will be closely watched by policymakers at the European Central Bank, although for now, it remains in their core view of supply side constraints and base effects from 2020's decline.
On a national level, prices rose over 34% y/y in Ireland and 13% in Belgium, although Cyrus remained in negative territory at -2.2%. Prices rose 20.4% in the energy sector and by 6.9% for intermediate goods.
Source: Eurostat
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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