Eurozone producer prices fall at slowest pace in 11 months

Eurozone industrial producer prices in May fell at the slowest pace in 11 months, according to data released on Wednesday.

Producer prices dropped 4.2% year-on-year in May, marking the 13th consecutive month of decline, Eurostat data showed.

Energy costs dove 11.4% from a year earlier in May, the least since last April.

In the EU, industrial producer prices went down by 4% from last year in May.

On a monthly basis, industrial producer prices in May fell 0.3% in the euro area and 0.3% in the 27-member EU bloc.

The eurozone/euro area, or EA19, represents member states that use the single currency – the euro – while the EU27 includes all member countries of the bloc.