- Prior +0.1%
- PPI -1.7% vs -1.9% y/y expected
- Prior -0.5%
It’s a beat on estimates but this is very much a lagging data point at best. The consumer price index (CPI) precedes this and outweighs this on inflation trends, so just take this as a supportive or secondary data. If excluding energy, producer prices were only up 0.1% on the month in November last year.
The breakdown shows that prices for:
- Intermediate goods +0.3%
- Energy +1.8%
- Capital goods +0.1%
- Durable consumer goods +0.3%
- Non-durable consumer goods -0.2%
And when compared to the same month a year ago, producer prices were seen down 1.7%. However, much of that owes to a steep decline in energy prices (-7.4%)
Eurozone November PPI +0.5% vs +0.2% m/m expected
