Eurozone Producer Prices Rise in February

The Eurozone’s Producer Prices Index (PPI) increased by 0.5% in February, compared with its level in January, according to data by Eurostat.

Furthermore, official data by the European Union (EU) showed a 1.5% rise in produce prices in February on an annual basis.

Rising energy costs by 2.3% year-on-year contributed to the growth of producer prices.

However, excluding energy, producer prices added 1.2% in February.

Consumer inflation in the Eurozone surged in March to 1.3%.