Eurozone Producer Prices Rebound On Energy Costs

(RTTNews) - Eurozone producer prices increased in March due to a strong rebound in energy prices, Eurostat said Wednesday.

Producer prices grew 3.4 percent on a monthly basis, reversing a 0.6 percent fall in the prior month. The rate exceeded economists' expectations of 3.3 percent.

Excluding energy, producer prices gained 0.5 percent, outpacing February's 0.1 percent rise.

Within overall producer prices, energy posted the biggest increase of 11.1 percent. Prices of intermediate goods moved up 0.7 percent and that of non-durable consumer goods grew 0.3 percent.

Prices of capital goods and durable consumer goods increased 0.2 percent each in March.

On a yearly basis, producer prices advanced 2.1 percent, contrasting sharply with 3.0 percent decline in February. Economists had forecast an annual increase of 1.8 percent.