Producer prices in the European zone rose slightly as expected in October compared to September as rising energy prices offset small declines in various goods, while declines from the previous year slowed.
The European Union's statistical office, Eurostat, announced on Tuesday that producer prices in the 20 countries that share the euro currency rose by 0.2% on a monthly basis in October, but fell 9.4% from a year earlier.
The average expectation of economists is an increase of 0.2% and a decrease of 9.5% respectively.
This figure compares with an increase of 0.5% month-on-month in September and a decrease of 12.4% year-on-year.
Compared to September, energy prices in October increased by 1.0% and consumer durables by 0.1%. The price of capital goods, such as machinery and equipment, did not change.
Prices of non-durable consumer goods fell by 0.1% and prices of intermediate goods, such as steel, sugar or wood, fell by 0.3%.
Producer prices are an early sign of consumer inflation trends, which the European Central Bank wants to lower to a target of 2.0%. It declined for the third consecutive month in November to 2.4%.
