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Eurozone industrial producer prices rise in October

Xinhua, December 2, 2016 Adjust font size:

Eurozone industrial prices rose by 0.8 percent on a monthly basis in October as energy prices rise, the statistical agency of the European Union (EU) Eurostat said on Friday.

It is the largest rise since August 2012, which is a positive sign for the European Central Bank (ECB) which wants to keep the consumer price index (CPI) below, but close to, 2.0 percent.

The industrial prices were down by 0.4 percent from a year earlier.

In September, producer prices were up 0.1 percent from the previous month and down 1.5 percent from the previous year.

The 0.8-percent increase in October is due to rises of 2.6 percent in the energy sector, of 0.3 percent for non-durable consumer goods, and of 0.1 percent for both intermediate goods and durable consumer goods, while prices remained stable for capital goods.

Prices in total industry excluding energy rose by 0.1 percent. Endit