Wholesale factory prices across the eurozone fell by more than expected in May, declining for the third straight month, as the annual rate of inflation slowed to a five-month low.
Source: Sharecast
The producer price index fell by 0.6% in May, slowing significantly after a 2.2% drop in April – its strongest decline in two years – according to data out on Friday from Eurostat.
However, this was slightly more than the market had expected, with economists having pencilled in a fall of just 0.5%.
Energy prices fell by 2.1% in May following a 7.8% slump the month before, while intermediate goods deflation held steady aat -0.1%.
Capital goods prices were unchanged after growing by 0.1% previously, while inflation picked up for durable consumer goods to 0.3% from 0.1% and slowed for non-durable consumer goods to 0.2% from 0.3%.
The year-on-year change in the headline PPI eased to 0.3% from 0.7%, its lowest rate since December.
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