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Eurozone Producer Prices Fall Most In 3 Years

Eurozone industrial producer prices decreased for a second straight month in January and at the fastest pace in three years, preliminary figures from Eurostat showed on Monday.

Producer prices decreased 0.8 percent from November, when they fell 0.3 percent. Economists had expected a 0.5 percent drop.

The latest decline was the biggest since January 2016, when prices fell 1.1 percent.

Producer prices fell by 2.6 percent in the energy sector and by 0.4 percent for intermediate goods.

Prices remained stable for non-durable consumer goods and increased by 0.1 percent for capital goods and by 0.2 percent for durable consumer goods.

On a year-on-year basis, producer prices rose 3 percent in December after a 4 percent increase in November. Economists had expected a 3.1 percent rise.

Producer price inflation was the weakest since May, when prices rose at the same pace.

For the full year 2018, average annual producer price inflation was 3.2 percent.

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