Eurozone producer prices keep increasing in March

Eurozone industrial producer prices increased by 0.3 percent in March, the European Union's statistics bureau Eurostat said Thursday.

Compared to February, prices in total industry excluding the energy sector rose by 0.2 percent, while prices in the energy sector went up by 0.6 percent.

Prices increased in all sectors on a monthly basis, led by intermediate goods, which gained 0.4 percent. Capital goods, durable consumer goods and non-durable consumer goods all increased by 0.1 percent.

Compared to the same period of last year, the industrial producer price index rose by 2.7 percent in the 13-nation bloc that shares the same currency.

The producer price index, a key indicator of inflation pressure, has increased for the first three months of this year, which may strengthen the case of the European Central Bank to raise its benchmark interest rate again.

The bank indicated earlier last month that there could be another rate hike in June, citing concern over the inflation risk posed by robust economic growth.

For the 27-nation EU, industrial producer prices in March also gained 0.3 percent from the previous month, while the annual increase rate was 2.4 percent.

Source: Xinhua