ZONE factory gate prices edged up in March, according to figures released by Eurostat yesterday.
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.