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Eurozone industrial producer prices fell less than expected in November 2019

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Eurozone industrial producer prices fell less than expected in November 2019

Industrial producer prices in the eurozone declined 1.4% year over year in November 2019, slower than the 1.9% annual fall seen in the previous month, data from Eurostat showed.

The consensus estimate of economists polled by Econoday was for a year-over-year drop of 1.5% in industrial producer prices in November 2019.

The decline was driven by lower energy prices, which fell 6.1% in November 2019 following a revised 7.7% slump in the prior month.

Excluding energy, industrial producer prices were up 0.3%.

On a monthly basis, producer prices picked up 0.2% after October 2019's reading was revised down to reflect no change. This compares with the Econoday consensus estimate of a 0.1% monthly increase.