RTTN:Eurozone February Output Price Inflation Slows More Than Expected
Eurozone's producer price inflation weakened more than economists expected in February, latest data showed Thursday.
The producer price index increased 1.3 percent on an annual basis in February, notably slower than the revised 1.7 percent gain seen in the previous month, statistical office Eurostat said. Economists had forecast inflation to ease to 1.4 percent from the 1.9 percent originally reported for January.
Month-on-month, output prices moved up 0.2 percent in February, as expected by economists. The monthly growth was slower than 0.4 percent recorded in January, which was revised down from 0.6 percent.
In the European Union (EU), producer prices advanced 0.4 percent month-on-month, and 1.3 percent compared to February 2012, data showed.
Prices in total industry, excluding the energy sector, increased by 1.2 percent in both the euro area and the EU. Prices in the energy sector rose by 1.6 percent and 1.4 percent respectively.
Among the Member States, the largest increases were observed in Estonia, Romania, Belgium and Cyprus. Decreases were recorded in Sweden and Austria.
