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Eurozone Producer Price Inflation Continues To Accelerate

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Eurozone producer price inflation continued to rise in February driven by higher energy and intermediate goods prices, data from Eurostat showed on Wednesday.

Producer price inflation increased to 31.4 percent in February from 30.6 percent in January. Economists had forecast the rate to rise to 31.5 percent.

Among components of PPI, energy prices climbed 87.2 percent and intermediate goods prices gained 20.8 percent. Durable and non-durable consumer goods prices grew 7.2 percent and 6.8 percent, respectively. Prices of capital goods were up 5.9 percent.

Excluding energy, producer price inflation rose to 12.2 percent from 11.8 percent in the previous month.

On a monthly basis, producer prices gained 1.1 percent, slower than the 5.1 percent increase in January. Prices were expected to rise 1.3 percent.

In the EU27, producer prices moved up 1.1 percent on month and by 31.1 percent from the same period last year.

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