Euro-area producer-price inflation held steady in September as slower energy-cost growth offset higher prices for intermediate and non-durable consumer goods.
Factory-gate prices in the 17-nation euro region rose 2.7 percent from a year earlier after a similar increase in August, the European Union’s statistics office in Luxembourg said today. Economists had forecast an increase of 2.6 percent, the median of 19 estimates in a Bloomberg News survey showed. From the prior month, prices gained 0.2 percent.
Energy costs on the producer level rose an annual 7 percent in September after an 8.1 percent increase in the previous month, the statistics office said. Prices of intermediate goods rose 0.7 percent after a 0.2 percent increase in August, while non-durable consumer goods were up 2.4 percent.
In Germany, Europe’s largest economy, producer prices rose 1.7 percent from a year earlier, after increasing 1.6 percent in the previous month, today’s data showed. France reported a gain of 2.8 percent, with prices in Spain and Portugal increasing 3.8 percent and 4.6 percent, respectively.
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