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Economists Survey Raises 2021 CPI Forecast To 4.9%

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

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