• Prior +1.6%
  • PPI +30.8% vs +31.5% y/y expected
  • Prior +41.9%

Euro area producer prices fell more than expected in October and that is a welcome sign that perhaps inflation pressures may ease further in the months ahead. It marks the first time that producer prices have declined on a monthly basis since May 2020. Looking at the details, a 6.9% drop in energy price was the main drag for overall prices.