Eurozone producer prices slip

Producer prices in the Eurozone slipped more than expected in May, declining by 0.2 per cent, after a 0.9 per cent jump the previous month. However, underlying data suggest that price pressures remain intense, according to Barclays Capital: “The annual inflation rate for the core (excluding food and energy) consumer goods PPI reached 1.3 per cent annualised in May, up from 1.1 per cent previously in April.” Industrial producer prices were 6.2 per cent higher than last year.