Eurozone Producer Prices Fall 0.6%

(RTTNews) - Eurozone producer prices declined for the third straight month in May, largely due to the sharp fall in energy prices, data from Eurostat showed on Friday.

Producer prices decreased 0.6 percent month-on-month in May, though slower than the 2.2 percent decline posted in April.

The fall was driven by the 2.1 percent decrease in energy prices. Prices of intermediate goods showed a marginal 0.1 percent drop.

Prices of capital goods remained flat, and those of durable and non-durable consumer goods rose 0.3 percent and 0.2 percent, respectively.

Excluding energy, producer prices edged up 0.1 percent, the same pace of increase as seen in April.

On a yearly basis, producer price inflation softened to 0.3 percent, as expected, from 0.7 percent in April.