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Eurozone Producer Price Inflation Slows For Third Straight Month

Eurozone producer price inflation slowed for the third consecutive month in May, data from Eurostat showed on Tuesday.

The industrial producer price index rose 1.6 percent year-on-year in May following a 2.6 percent rise in April. Economists had expected a 1.8 percent rise.

Producer prices for intermediate goods rose 0.8 percent annually in May. Energy prices climbed 3.1 percent and that of capital goods grew 1.6 percent.

Durable consumer goods prices increased 1.4 percent and non-durable consumer goods prices gained 0.9 percent.

On a month-on-month basis, producer prices fell unexpectedly by 0.1 percent in May following a 0.3 percent decrease in the previous month. This was the third consecutive decline in prices. Economists had expected a 0.1 percent rise.

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