In September, the eurozone witnessed a decline in producer prices for the first time in four months, primarily driven by a reduction in energy costs, according to data released on Wednesday by Eurostat, the European statistical office.
Domestically, producer prices fell by 0.6% on a month-to-month basis, reversing a similar upward movement from the previous month and marking the first decline since May. When excluding energy costs, prices remained steady compared to the prior month, which had seen a slight increase of 0.1%.
Energy prices experienced a significant drop of 1.9%, marking their first downturn since May. Meanwhile, prices for capital goods saw a modest decline of 0.1%, while intermediate goods prices remained unchanged.
There was a 0.2% increase in prices for both durable and non-durable consumer goods, following a period of stability in the previous month.
On an annual basis, producer prices decreased by 3.4%, continuing a pattern of decline observed over recent months. In comparison, August experienced a 2.3% drop. Across the European Union, producer prices diminished by 0.6% month-on-month and 3.3% year-over-year.
Within EU member states, Estonia recorded the most substantial monthly decrease in industrial producer prices, while Ireland experienced the largest increase.
