Global General

Eurozone industrial producer prices up by 0.1%

(Xinhua)
Updated: 2010-01-07 03:28

BRUSSELS：Industrial producer prices in the euro zone rose by 0.1 percent in November of 2009, compared with the previous month, the European Union (EU)'s statistics bureau Eurostat said on Wednesday.

It followed a monthly increase of 0.3 percent in October. Compared with November 2008, industrial producer prices in the 16- nation bloc that uses the euro dropped by 4.4 percent.

In November, while prices in the energy sector rose by 0.8 percent from October, prices in total industry excluding the energy sector fell by 0.1 percent in the euro zone. Capital goods and durable consumer goods remained stable. Non-durable consumer goods declined by 0.1 percent, while intermediate goods decreased by 0.2 percent.

In the 27-nation EU, industrial producer prices grew by 0.2 percent month on month in November and dropped by 3.2 percent year on year.

Among the member states for which data were available, the largest monthly increase in the total index was recorded in Denmark, up by 1.4 percent. The sharpest decrease was observed in Latvia, down by 1.6 percent.

Industrial producer prices are a key indicator of inflation. The index had been largely on a declining trend since August of 2008 due to retreat of world oil prices and economic woes.