Eurozone Producer Prices Rise More Than Forecast

(RTTNews) - Eurozone producer prices grew more than expected in January largely reflecting higher energy prices, data from Eurostat showed on Wednesday.

Producer price inflation accelerated to 1.8 percent in January from 0.1 percent in December. The rate was seen at 1.4 percent.

Excluding energy, producer prices advanced 1.3 percent, following a 1.0 percent gain in the previous month.

The producer price index climbed 0.8 percent month-on-month, which was faster than the 0.5 percent increase in December and also bigger than economists' forecast of 0.3 percent.

Within total prices, energy cost rebounded 3.5 percent after falling 1.6 percent. Prices of capital goods and durable consumer goods rose 1.6 percent and 1.5 percent, respectively. Non-durable consumer goods prices gained 1.8 percent.

Producer prices in the EU27 rose 0.8 percent on a monthly basis and by 1.8 percent in January from the same period last year.