Eurozone Producer Prices Edge Up in February

The producer price index (PPI) in the euro area experienced a modest increase of 0.2% in February compared to January, as per a preliminary report released by Eurostat on Thursday. A similar trend was observed across the European Union, where producer prices saw a 0.3% rise month-on-month.

Year-on-Year Growth Highlights Energy Price Surge

When compared to February 2024, the PPI in the Eurozone and the EU grew by 3% and 3.1%, respectively. The most significant monthly price increase within the euro area was recorded in intermediate goods, which rose by 0.4%, closely followed by energy and capital goods at 0.2%, and non-durable consumer goods at 0.1%. Conversely, the prices of durable consumer goods saw a slight decrease of 0.1%.

Annual comparisons reveal a dramatic 7.4% jump in energy prices, with non-durable consumer goods, capital goods, and both intermediate and durable consumer goods also experiencing increases of 1.7%, 1.6%, and 0.9%, respectively.