Source: Sharecast
According to Eurostat data on Thursday, wholesale prices across the single-currency region declined by 2.2% in April, following a revised 1.7% decrease in March.
This was a lot quicker than the 1.8% fall expected by economists and the steepest monthly drop since April 2023.
Energy prices fell 7.7% over the month, following a 5.8% decline in March, while prices for intermediate goods fell 0.1% after no change the previous month. Meanwhile, the rate of inflation was unchanged for durable consumer goods, and slowed for non-durable consumer goods slowed, while capital goods prices were steady over the month.
Compared with last year, the annual rate of eurozone producer price inflation slowed to just 0.7% from 1.9%. This was well under the consensus forecast of 1.2% as the rate of energy inflation eased to just 0.3% from 4.0%.