Eurozone April PPI -1.0% vs -0.4% m/m expected

• Prior -0.4%
• PPI -5.7% vs -5.3% y/y expected
• Prior -7.8%

Producer prices in the euro area declined in April but owes much to a drop in energy prices. If you strip that out, PPI actually increased by 0.2% on the month instead. Here's the breakdown:

• Intermediate goods +0.3%
• Energy -3.6%
• Capital goods +0.2%
• Durable consumer goods +0.2%
• Non-durable consumer goods +0.1%