Tuesday April 28, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cheaper energy pulls down eurozone factory prices in January

A steep fall in energy costs brought down eurozone producer prices faster than expected in January, data showed on Tuesday, underlining deflationary risks ahead of the European Central Bank's policy meeting on Thursday.

Prices at factory gates in the 18 countries sharing the single currency dropped 0.3 percent in January against December mainly because of a 1.4 percent fall in costs of energy, the EU's statistics office Eurostat said.

Analysts polled by Reuters expected prices to ease 0.1 percent on the month.

Compared with the same period of the last year, producer prices fell 1.4 percent against market expectations of a 1.3 percent drop, showing its biggest slump since December 2009 when prices fell 3.0 percent.

Producer prices are an indication of inflationary pressures early in the pipeline because unless absorbed by retailers, they eventually translate into consumer inflation, which the European Central Bank wants to keep below, but close to 2 percent.

The ECB is poised to take action on Thursday to ease lending conditions and drag consumer inflation out of a "danger zone" below 1 percent year-on-year, that threatens the bloc's fragile recovery.

Adjusted for energy, producer prices rose 0.1 on the month in January after being flat in December.

There were only five eurozone countries were prices at factory gates rose in January month-on-month, led by a 1.1 percent growth in Estonia and followed by the bloc's newest member Latvia showing a 1.0 percent increase.

In Europe's largest economy, Germany, producer prices fell 0.1 percent in January, after a 0.1 percent rise in the previous month.

In he bloc's southern periphery, which is slowly regaining competitiveness through years austerity policies, the picture was mixed: prices in Greece grew 0.3 percent month-on-month while Spain saw a 1.3 percent drop in January against December. [Reuters]

ekathimerini.com , Tuesday March 4, 2014 (12:12)  
Dritsas admits Piraeus port will have to be privatized
Holiday levy plans outrage professionals
U-turn on ENFIA and threshold
Extension to pension fund debt deadline
Govt drafts multi-bill in hope of quick payment
The cabinet is expected to meet Thursday to discuss the details of a reform multi-bill the government is preparing in the hope that it will accelerate the conclusion of negotiations with len...
Generic drug brands allowed in prescriptions
Doctors are now being allowed to recommend specific generic drugs when they issue prescriptions, in what the government says is a move designed to increase the use of this form of medicines ...
Inside News
BASKETBALL
Rethymno defeats in-form AEK on Crete
AGO Rethymnou put an end to a positive string of results for in-form AEK, while PAOK survived a strong challenge by Kolossos Rhodes in Thessaloniki in yet another exciting weekend of basketb...
SOCCER
Panathinaikos beats Xanthi to rise to second
Panathinaikos jumped back up to the second spot of the Super League after its home win over Xanthi on Saturday, as PAOK slumped to third due to its draw at home with PAS Giannina on Sunday. ...
Inside Sports
COMMENTARY
The Good, the Bad and the Ugly
It is so exhausting and unpleasant for average Greek citizens to keep hearing for weeks now that the countrys cash reserves will run out in two months, one month, next week, and especially ...
EDITORIAL
Better late than never
Three precious months were lost in the governments negotiations with the countrys international partners and creditors, as some of its officials wasted time on their own self-promotion, ha...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Dritsas admits Piraeus port will have to be privatized
2. Holiday levy plans outrage professionals
3. U-turn on ENFIA and threshold
4. Extension to pension fund debt deadline
5. Govt drafts multi-bill in hope of quick payment
6. Generic drug brands allowed in prescriptions
more news
Today
This Week
1. The Good, the Bad and the Ugly
2. Creditors to demand extra measures of 3 bln euros
3. Plan on the cards for flat VAT rate of 18 pct
4. Greek PM says people may have to rule on creditor deal [Update]
5. Greek PM says initial deal in bailout talks 'very close'
6. No trolley buses from 11 a.m. to 4 p.m.
Today
This Week
1. Greek government's popularity takes a hit as talks drag on
2. Denialism
3. Europe's collision course with Greece
4. It's up to the Greek government to ensure deal with lenders, says ECB's Coeure
5. Leaving the past in the past
6. Greeces day of reckoning inches closer as debt payments loom
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.