Eurozone producer prices rise more than expected in October

Eurozone producer prices rose more than expected in October, according to the latest figures from Eurostat.

Producer prices increased 0.8% from September compared to expectations for a 0.2% jump.

On the year, prices fell 0.4%, which was less steep than the 1% decline expected by economists.

Energy sector prices rose 2.6%, while prices for non-durable consumer goods were up 0.1%. Prices of intermediate and durable consumer goods were up 0.1%, while prices for capital goods remained stable.

Excluding energy, prices in total industry were 0.1% firmer.

In the EU-28 group of nations, producer prices gained 1% on the month and 0.2% on the year.