Eurozone Producer Price Inflation Accelerates

(RTTNews) - Eurozone producer price inflation accelerated in April on surging energy prices, data from Eurostat showed Wednesday.

The producer price index posted an annual increase of 4.9 percent in April, following March's 2.0 percent rise. Prices were forecast to climb 4.8 percent.

Excluding energy, producer prices rose 2.3 percent compared to the 1.4 percent increase in the prior month.

Data showed that energy prices posted the biggest increase of 12.3 percent. Intermediate goods prices gained 3.9 percent and durable consumer goods prices moved up 2.7 percent.

Prices of capital goods rose 2.1 percent, while non-durable consumer goods prices fell 0.2 percent.

Month-on-month, growth in producer prices softened to 0.6 percent from 3.4 percent due to a 0.4 percent drop in energy prices.