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Eurozone Producer Price Inflation Accelerates In February

Eurozone producer prices rose at a slightly faster pace in February, after easing slightly in February, preliminary data from Eurostat showed on Tuesday.

The industrial producer price index rose 3 percent year-on-year following a 2.9 percent rise in January, which was revised from 3 percent. Economists were looking 3.1 percent price growth.

Producer prices for intermediate goods rose 1.3 percent following a 1.7 percent increase in January. Energy prices climbed 8 percent and those for capital goods grew 1.5 percent.

Durable consumer goods logged a price increase of 1.4 percent and non-durable consumer goods registered a gain of 0.4 percent.

On a month-on-month basis, producer prices edged up 0.1 percent in February following a 0.3 percent increase at the start of the year. Economists had expected a 0.2 percent rise.

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