According to the data of the European statistical office Eurostat, eurozone producers in October increased prices by 0.4% against the previous month, the same as in September.
The economists’ forecast assumed a rise in prices of 0.2%. Compared to October 2019, producer prices fell 2%, slowing down the pace of decline versus a decline of 2.3% a month earlier. According to market estimates, the fall was expected at 2.4%.
The main contribution to the price decline was made by cheaper energy sources. Without taking them into account, prices fell by only 0.2%. A month earlier, their decline was recorded by 0.3%. Energy prices fell 7.6% over the year. Intermediate goods fell 1.3%.
At the same time, prices for durable goods showed growth, having increased by 1.2% over the past twelve months. Capital goods rose 0.8%. The cost of non-food products rose by 0.1% over the year. In the countries of the European Union, producer prices increased by 0.3% in comparison with September, and compared with October last year, they decreased by 2%.