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Producer Prices at fresh highs, Energy up 11.1% compared to Feb

EUROZONE DATA
MNI (London)

EUROZONE MAR PPI +5.3% M/M, +36.8% Y/Y, FEB +31.5%r Y/Y

EUROZONE MAR PPI EX. ENERGY +2.1% M/M, +13.6% Y/Y, FEB +12.3%r Y/Y

  • Euro area industrial producer prices accelerated 5.3% m/m in March, rising to a new record high of +36.8% y/y.
  • This data highlights the initial effects of the Russian invasion of Ukraine, where initial sanctions saw a spike in energy prices of +11.1% compared to the month prior.
  • This compared to +1.3% m/m seen pre-invasion in February.
  • Intermediate goods rose 2.8% m/m and non-durables by 2.4% m/m.

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