{"id":33801,"date":"2023-05-04T09:07:54","date_gmt":"2023-05-04T09:07:54","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/euro-zone-producer-prices\/"},"modified":"2023-05-04T09:09:53","modified_gmt":"2023-05-04T09:09:53","slug":"euro-zone-producer-prices","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/euro-zone-producer-prices\/","title":{"rendered":"Euro zone producer prices fall m\/m in March"},"content":{"rendered":"<p>BRUSSELS (Reuters) &#8211;     Euro zone producer prices fell a bit more than expected month-on-month in March, data showed on Thursday, pointing to a further slowdown in consumer prices as the European Central Bank is expected to announce yet another interest rate rise.<\/p>\n<p>The European Union&#8217;s statistics office Eurostat said prices at factory gates in the 20 countries sharing the euro fell 1.6% in March against February and grew 5.9% year-on-year, decelerating sharply form 13.3% annual growth in February.<\/p>\n<p>Economists polled by Reuters had expected a monthly fall of 1.7% and a 5.9% year-on-year rise.<\/p>\n<p>Producer prices are an early indication of trends in consumer inflation, which the ECB wants to keep at 2.0% over the medium term, but which still stood at 7.0% in April. The ECB has been raising rates since the middle of 2022.<\/p>\n<p>The bank is set to announce another interest rate rise later on Thursday, increasing borrowing costs to 3.75 or even 4.0% to fight the persistently high inflation.<\/p>\n<p>Eurostat said the monthly fall in producer prices was mainly thanks to a 4.8% drop in energy costs and a 0.4% easing in prices of intermediate goods.<\/p>\n<p>Falling energy prices were also keeping the year-on-year reading down, because without energy, producer prices were 8.0% higher than a year earlier, mainly because of a 13.4% increase in non-durable consumer products, such as food. Durable consumer products, however, were also boosting the overall index, rising 8.2% year-on-year in March.<\/p>\n<p \/>\n<p> (Reporting by Jan Strupczewski)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/euro-zone-producer-prices\/file-photo-a-woman-carries-plastic-bags-with-fruits-and\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ4309L-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ4309L-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BRUSSELS (Reuters) &#8211; Euro zone producer prices fell a bit more than expected month-on-month in March, data showed on Thursday, pointing to a further slowdown in consumer prices as the European Central Bank is expected to announce yet another interest rate rise. The European Union&#8217;s statistics office Eurostat said prices at factory gates in the [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":33802,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-33801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ4309L-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/33801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=33801"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/33801\/revisions"}],"predecessor-version":[{"id":33803,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/33801\/revisions\/33803"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/33802"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=33801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=33801"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=33801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}