Euro area September output prices fall more than forecast

Industrial producer prices in the Eurozone decreased at a faster-than-expected pace n September, with prices falling in the major industrial sectors, latest data showed Tuesday.

The producer price index decreased 0.9 percent in September from the same month of last year, following a 0.8 percent fall in August, statistical office Eurostat said. Economists had forecast a 0.8 percent decline for September.

The decline of the headline index primarily reflected a 1.5 percent fall in intermediate goods prices. Prices of energy products slid 2.7 percent, while non-durable consumer goods prices and capital goods prices advanced 1.6 percent and 0.6 percent respectively.

Among member states, the largest decreases in the total index were observed in Cyprus, Bulgaria, the Netherlands and Lithuania. The highest increases were registered in Estonia , Denmark, Ireland and the United Kingdom.

The producer price index edged up 0.1 percent compared to August, when they stayed unchanged. Expectations were for a 0.2 percent gain.

In the European Union (EU), output prices decreased at a faster annual rate of 0.5 percent in September than 0.4 percent a month earlier. Sequentially, prices moved up 0.1 percent in the EU, as they did in August, data showed.