Producer Price Index in the Eurozone saw a decline in January

The European Statistical Office has released the January Producer Price Index (PPI) data for the European Union (EU) and the Eurozone. The Producer Price Index (PPI) in the Eurozone fell by 0.9 percent on a monthly basis in January.

A 0.9 PERCENT DECLINE WAS OBSERVED COMPARED TO THE PREVIOUS MONTH

Accordingly, the PPI in the EU fell by 0.9 percent in January compared to the previous month and by 8.4 percent compared to the same month in 2023. In the Eurozone, the PPI decreased by 0.9 percent on a monthly basis and by 8.6 percent on an annual basis in January.

Market expectations were for the PPI in the Eurozone to decrease by 0.1 percent monthly and 8.1 percent annually.

Among EU countries, the PPI saw the largest annual declines in January in Ireland with 21.5 percent, Bulgaria with 17.8 percent, and Latvia with 12.3 percent. Annual PPI increased by 15 percent in Luxembourg, 0.7 percent in Malta, and 0.3 percent in Slovenia.

On a monthly basis, the PPI increased by 5.3 percent in Estonia, 4 percent in Ireland, and 2.4 percent in Czechia, while it fell by 14.3 percent in Slovakia, 3 percent in Poland, and 2.2 percent in Austria.