- Prior -0.3%
- -1.7% vs -1.6% exp y/y. Prior -1.4%
Prices continue to fall even as energy costs rise to -0.5% from -1.2% (EU18) and -0.4% from -1.5% (EU28) m/m. On a yearly basis energy continues to be the big driver falling 4.4% from -3.6% (EU18) and to -4.9% from -3.4% (EU28)
All goes into the mix for a low price environment in Europe.
EUR/USD stuck at the lows of 1.3788.
EZ PPI 02 04 2014
Overall I don’t see any real shocks in the numbers to suggest that the ECB is going to jump into action. Energy is still the main driver and that falling is actually beneficial to economies that rely on energy imports.