Eurozone April PPI -2.2% vs -1.8% m/m expected

• Prior -1.6%; revised to -1.7%

Looking at the breakdown, the major drag on the month is mostly due to a fall in energy prices (-7.7%). If you strip that out, euro area PPI actually was up 0.1% in April compared to March. There were increases in the prices for durable consumer goods (+0.1%) and non-durable consumer goods (+0.3%). That is marginally offset by a drop in prices for intermediate goods (-0.1%) while capital goods were flat.

This article was written by Justin Low at www.forexlive.com.