Euro area producer prices bounce back in January

Factory gate price pressures in the euro area were steady at the start of 2018.

In month-on-month terms, producer prices increased by 0.4% (consensus: 0.3%), recovering just under half of the prior month's drop while versus a year ago they were unchanged at 3.0%, Eurostat reported.

Prices of capital goods saw the largest increase when compared to the month before, rising by 0.6%, followed close behind by prices for durable consumer goods, which added 0.5%.

Energy prices were also higher, by 0.4%, but only after having dropped by 0.9% in November and another 2.7% in December.

Total industry prices, excluding energy advanced by 0.3% on the month, following a dip of 0.1% in December and flat readings for October and November.

Versus a year ago, Eurozone producer prices were ahead by 3.0% (consensus: 2.9%).