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Eurozone industrial producer prices soar in December

Xinhua, February 2, 2017 Adjust font size:

The industrial producer prices across the 19-country Eurozone soared due to energy price hiking in December, official data showed Thursday.

The single currency zone saw the figure rose by 0.7 percent monthly, higher than the 0.3 percent in November.

While on a yearly basis, the prices increased by 1.6 percent, said Eurostat, the bloc's statistics agency.

The monthly surge was largely due to energy price hiking which recorded an monthly increase of 2.1 percent. The expensive energy as well helped push up Eurozone's inflation to 1.8 percent in January.

However, excluding the energy sector, prices in total industry rose only by 0.3 percent.

Economists projected that the readings would not curb the bloc's central bank's massive stimulus measures. Endit