Eurozone May PPI Up 1.3% Month-on-Month
[Asia Economy Reporter Jeon Jinyoung] The Eurozone Producer Price Index (PPI) for May rose by 1.3% compared to the previous month.
On the 2nd, Eurostat, the statistical office of the European Union (EU), announced that the Eurozone PPI for May increased by 1.3% month-on-month. This figure exceeds the market forecast of 1.2%.
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The PPI is an index that measures the price changes of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for most of overall inflation. When the actual figure is higher than expected, the value of the euro is viewed positively.
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