Eurozone PPI Rose 23.7% Year-On-Year

The Eurozone's production price index (PPI) continued to rise 23.7% year-on-year in November last year, which was higher than market expectations of 22.9% and the previous value of 21.9%. On a monthly basis, PPI rose by 1.8%, which was also higher than market expectations of 1.2%, but the increase was slower than the previous month’s 5.4%. It was still mainly driven by the increase in energy prices, of which energy prices rose by 3.5% on a month-to-month basis. It rose by 66% year-on-year. The data reflects the continued tension in Ukraine, fears that Europe and Russia are at odds with each other, the delayed gas supply of Beixi No. 2 natural gas pipeline, and seasonal demand increases in winter are driving the European fuel prices to soar, causing a huge increase in the cost of enterprises in the region. Pressure, and also pay attention to whether Russia can ease the current tension after the talks with the United States and North Korea next week.

Source: MoneyDJ.com