Eurozone PPI rose 15% year-on-year
The European Statistical Office (Eurostat) has released the January PPI data of the European Union (EU) and Eurozone.
Accordingly, while the PPI in the EU decreased by 2.2 percent in January compared to the previous month, it increased by 16.4 percent compared to January 2022.
In the Euro Zone, on the other hand, PPI decreased by 2.8 percent on a monthly basis in January and increased by 15 percent on an annual basis.
Market expectations were that the PPI would decrease by 0.3 percent on a monthly basis and increase by 17.7 percent on an annual basis.
In the latest data, annual PPI expectations in the Euro Area under took place.
In the said period, producer prices in the Euro Zone increased by 20.5 percent on an annual basis in the energy sector.
Among EU countries, PPI increased the most in Hungary with 64.6 percent, Latvia with 38.8 percent and Slovakia with 34.5 percent in January.
Annual PPI increase was determined as 18.3 percent in Germany and 17.9 percent in France.