Published: 2024-05-06 15:26
Photo by Linas Butkaus (VŽ).
Eurozone industrial production producer price index fell by 7.8% in March compared to the same month last year, according to data published by Eurostat on Monday.
March marked the eleventh straight month of annual declines in producer prices, largely due to base effects from a spike in energy prices following Russia’s invasion of Ukraine.
Energy prices alone were 20% lower in March this year than a year ago.
Excluding the change in energy prices, producer prices decreased by 1.3% in March compared to last March.
The monthly decline of this price index in March was recorded for the fifth month in a row – it decreased by 0.4% compared to February.
In the entire European Union, the producer price index of industrial production fell by 0.5% per month and 7.6% per year in March.
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