Eurozone producer prices fall in September

Producer prices eased in the Eurozone in September, official data showed on Wednesday, in line with expectations.

According to first estimates from Eurostat, the statistical office of the European Union, industrial producer prices fell 0.6% in both the Eurozone and wider bloc.

In August, prices grew by 0.6% in the Eurozone and by 0.4% in the EU.

The biggest drag was a sharp fall in energy prices, down 1.9%. In contrast, capital goods eased just 0.1% while durable consumer goods and non-durable consumer goods both edged up 0.2%.

Among individual countries, Spain was one of the heaviest fallers, with a 2.4% slide in industrial producer prices, reversing August’s 1.4% rise.

Germany, the bloc’s biggest economy, fell 0.5%, in contrast to August’s 0.2% uplift. France dipped 0.1% while Italy was off 0.8%.

Year-on-year, industrial producer prices slumped 3.4% in the Eurozone and 3.3% in the EU.