Eurozone producer prices rise as expected

The producer-price index for the single-currency region increased by 0.4%, following a 0.6% monthly decline in prices in September. This was in line with the consensus estimate.

Eurostat said a 1.4% increase in energy prices and small gains in the cost of durable and non-durable consumer goods drove the change month-on-month, while the price of intermediate goods slipped 0.1% and capital goods remained stable.

Excluding energy prices, which tend to be volatile, the producer price index was unchanged from the previous month following another flat reading in September.

In annual terms, producer prices were 3.2% lower than last October, falling in year-on-year terms for the 17th straight month. This followed a 3.4% annual decline in September and was slightly higher than the 3.3% drop expected by analysts.