Producer Prices Decline in January in the Eurozone

The Producer Price Index (PPI) in the Eurozone witnessed a monthly decrease of 0.9% in January, according to data released by the European Statistical Office for the European Union (EU) and the Eurozone.

In the EU, the PPI declined by 0.9% in January compared to the previous month and by 8.4% compared to the same month in 2023.

Similarly, in the Eurozone, the PPI decreased by 0.9% on a monthly basis and by 8.6% on an annual basis in January.

Market expectations were slightly off, anticipating a monthly decrease of 0.1% and an annual decrease of 8.1% in the Eurozone’s PPI.

Among EU member states, Ireland experienced the highest annual decline in PPI in January, dropping by 21.5%, followed by Bulgaria with 17.8% and Latvia with 12.3%. On the other hand, Luxembourg recorded a 15% increase in annual PPI, while Malta and Slovenia saw modest increases of 0.7% and 0.3%, respectively.

On a monthly basis, Estonia (5.3%), Ireland (4%), and Czechia (2.4%) observed the highest increases in PPI, while Slovakia (14.3%), Poland (3%), and Austria (2.2%) recorded declines.

The data reveals a varied economic landscape within the Eurozone, reflecting the impact of global and regional factors on producer prices across different member states. As economic conditions continue to evolve, market participants will closely monitor these indicators for insights into inflationary pressures and overall economic health.

source: / prepared by Melisa Beğiç

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