Eurozone producer prices released

The European Statistical Office (Eurostat) has released the Producer Price Index (PPI) data for the European Union (EU) and the Eurozone for December 2023. According to the data, the PPI in the EU decreased by 0.9 percent in December compared to the previous month and by 10 percent compared to the same period in 2022.

Although market expectations were for the PPI in the Eurozone to decrease by 0.8 percent monthly and 10.5 percent annually, there was a decline of 0.8 percent on a monthly basis and 10.6 percent on an annual basis in December.

Among EU countries, the PPI declined the most on an annual basis in December in Ireland with 43.5 percent, Italy with 20.5 percent, and Bulgaria with 19.8 percent. The annual PPI increased by 20.2 percent in Luxembourg, 13.3 percent in Slovakia, and 2 percent in Slovenia.

On a monthly basis, the PPI increased by 1 percent in Greece and 0.5 percent in Belgium, while it declined by 12 percent in Ireland, 1.8 percent in the Netherlands, and 1.4 percent in Estonia.