Eurozone producer prices saw a more moderate decline in November, attributed to a slowdown in the drop of energy costs, according to data released by Eurostat on Wednesday.
Producer prices experienced a year-over-year decrease of 1.2 percent, improving from the 3.3 percent decline recorded in October. This marks the smallest reduction since May 2023.
Among the key components of producer prices, energy recorded the largest annual decrease at 5.3 percent, though this was less severe than the 11.2 percent drop seen in the previous month. Prices for intermediate goods fell by 0.3 percent.
Conversely, prices for capital goods and non-durable consumer goods increased, rising by 1.3 percent and 1.9 percent, respectively. Durable consumer goods also saw an uptick of 0.6 percent.
Excluding the energy sector, producer price inflation climbed to 0.9 percent from the prior 0.7 percent.
On a month-to-month basis, the producer price index rose by 1.6 percent, following a 0.4 percent recovery in October. This aligns closely with economists' expectations of a 1.5 percent increase.
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