By Hans Bentzien
FRANKFURT (Dow Jones)–In the euro area, there was no average price pressure from the producer level in November either. As Eurostat announced, producer prices fell by 0.3 percent compared to the previous month and were 8.8 (October: 9.4) percent below the level of the same month last year. Analysts surveyed by Dow Jones Newswires had forecast rates of minus 0.4 and minus 8.9 percent.
On a monthly basis, producer prices for energy fell by 0.8 percent, those for intermediate goods by 0.5 percent, and those for capital goods and consumer goods by 0.1 percent. In contrast, producer prices for consumer goods remained unchanged. Producer prices in industry as a whole, excluding energy, fell by 0.2 percent.
Over the year, there were opposing developments. The producer prices for energy were 23.7 percent below the level of the same month last year and the producer prices for intermediate goods were 5.2 percent below. In contrast, the producer prices for capital goods (plus 3.0 percent), durable goods (plus 3.4 percent) and consumer goods (plus 3.6 percent) exceeded their previous year’s level. Producer prices excluding energy fell by 0.5 percent.
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(END) Dow Jones Newswires
January 05, 2024 05:00 ET (10:00 GMT)