Eurozone industrial producer prices rise by 0.7% in March

14:20, May 04, 2011      

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Industrial producer prices in the eurozone rose by 0.7 percent in March compared with the previous month, the European Union's statistics bureau Eurostat said Tuesday.

Compared with March 2010, industrial producer prices in the 17-member bloc that uses the euro gained 6.7 percent.

In March, prices in the energy sector were up 1.9 percent from February, while prices in total industry excluding the energy sector increased 0.2 percent.

Both non-durable consumer goods and intermediate goods rose by 0.3 percent, while durable goods jumped 0.1 percent. Capital goods remained unchanged in March.

In the 27-nation EU, industrial producer prices grew 1.0 percent month on month in March and 7.4 percent year on year.

Among the member states for which data were available, the largest monthly increase in the total index was recorded in Britain, up by 3.0 percent. The smallest increase was observed in Hungary, up by 0.1 percent.

Industrial producer prices are a key indicator of inflation. According to Eurostat, annual inflation in the eurozone hit 2.8 percent in April, further up from 2.7 percent in March and ranked the highest level since November 2008.

Source: Xinhua
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