02.07.202011:00:00UTC+00Eurozone Producer Prices Decline Further

Eurozone producer prices continued to decline in May amid falling energy prices, data from Eurostat showed on Thursday.

Producer prices decreased 5.0 percent on a yearly basis in May, following a 4.5 percent decline in April. Economists had expected a fall of 4.8 percent.

Excluding energy, producer prices declined 0.6 percent in May after a 0.3 percent fall in the prior month. Energy prices declined 17.2 percent in May.

On a month-on-month basis, producer prices fell at a slower pace of 0.6 percent in May following a 2.0 percent decrease in April. This was the fourth straight decline in prices. Economists had forecast the prices to fall 0.5 percent.

In the EU27, industrial producer prices fell 0.5 percent monthly in May and 4.6 percent from a year ago.