It adds further evidence that inflation in the currency bloc has bottomed out.
Industrial producer prices rose 0.2 per cent in March compared with February. Industrial producer prices – also known as factory gate prices – gauge the prices of intermediate goods that are sold from factories and not directly to consumers. Yesterday’s figures marked the second consecutive month of increases, after February’s number ended a run of falling factory prices.
Inflation – which is measured by the prices consumers pay – increased to zero per cent in April, according to official estimates, escaping negative territory.
Together the figures point to a recovery in inflation toward the European Central Bank’s target of near to, but below, two per cent.