Eurozone producer prices rose more than expected in November, with PPI increasing 0.5% mom, above forecasts of 0.2%. Despite the rebound, annual producer price inflation remained firmly negative at -1.7% yoy, versus expectation of -1.9% yoy.
The monthly increase was led by energy prices, which jumped 1.8% mom, while intermediate goods rose 0.3% and capital goods edged up 0.1%. Prices for durable consumer goods also increased 0.3%, partially offset by a -0.2% decline in non-durable consumer goods.
Across the EU, producer prices rose 0.6% mom and fell 1.3% yoy, with sharp divergence among member states. Ireland posted the strongest monthly gain at 4.4%, followed by (+4.4%), Sweden (+1.9%), Bulgaria and Greece (both +1.6%). Slovakia (-0.9%), Cyprus (-0.8%) and Spain (-0.5%).
