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(CEP News) Frankfurt - According to a Eurostat press release, euro zone producer price inflation reached 1.2% in May on a monthly basis, up from the 0.9% growth rate expected and recorded in the previous month. April's figure was revised up from 0.8%.
Excluding the costs of energy, producer prices increased 0.3% in monthly terms. Energy sector prices rose 4.1% in May. Year-over-year, euro zone PPI jumped by a record high 7.1%. Economists had only expected a 6.7% rise, up from the previous month's 6.2% increase. April's growth rate was revised up slightly from 6.1%. Without the effects of energy prices, euro zone producer prices increased 3.8% on an annualized basis. Over the same period, the energy sector saw prices rise 18.2% in May. By Todd Wailoo,
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, edited by Stephen Huebl,
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