logo
  

Eurozone PPI Inflation Eases More Than Forecast

Eurozone producer price inflation slowed more than expected in May, after reaching a new record high in April, data released by Eurostat showed on Monday.

Producer prices climbed 36.3 percent year-on-year in May, following a 37.2 percent rise in April. Economists had forecast inflation to ease to 36.7 percent.

A surge in energy prices of 94.4 percent was largely responsible for overall inflation in May.

Excluding energy, producer price inflation rose slightly to 16.0 percent from 15.6 percent.

Prices for intermediate goods registered a sharp growth of 25.0 percent annually in May and those for non-durable consumer goods gained 12.3 percent.

There was an increase of 7.5 percent and 9.1 percent in producer prices of capital goods and durable consumer goods, respectively.

On a monthly basis, producer prices went up 0.7 percent in May, slower than the 1.2 percent rise in the previous month. That was below the expected increase of 1.0 percent.

Producer prices in the EU27 grew 36.4 percent yearly and by 0.8 percent monthly in May.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Seffner, Florida -based Canyon Furniture Co. is recalling ladders sold with bunk bed and hutch sets citing entrapment and strangulation risks, the U.S. Consumer Product Safety Commission said. The about 2,100 units of Canyon Lake and Cottage Colors Bunk Bed and Hutch Sets were sold exclusively at Rooms To Go. Lyft announced the expansion to its partnership with Indeed in Jobs Access program. The ride-hailing company will be providing transportation access for Indeed's Ready to Work program. Indeed's Ready to Work program is a series of free virtual and in-person events for job seekers in several cities across the U.S. from September 15 to October 8, 2022. Pool and Spa drain covers imported to the United States by various companies have been recalled due to violation of the Virginia Graeme Baker Pool and Spa Safety Act, the U.S. Consumer Product Safety Commission announced. The various recalls include pool and spa drain covers manufactured in China and sold exclusively at Amazon.com for different prices ranging from $10 to $12.
Follow RTT