Euro zone producer prices jumped in September more than expected, driven by skyrocketing energy costs, recording their highest increase on record in a new sign of strong inflationary pressures in the bloc, public data showed on Thursday. The European Union's statistics office Eurostat estimated that prices at factory gates in the 19 countries sharing the euro rose 2.7% month-on-month in September for a 16.0% year-on-year jump, in the biggest increases ever recorded for the bloc. The jump also exceeded expectations, as economists polled by Reuters had forecast a 2.2% monthly rise and a 15.2% surge on the year. Producer price rises usually translate into higher prices for consumers that the European Central Bank wants to keep rising at around 2%. The bank and euro zone finance ministers expect the inflation spike to pass in coming months and inflation to slow in 2022.

Source : Reuters
Post by  : Republic of Turkey Ministry of Trade