Industrial producer prices in the eurozone fell by 0.8% in January as the economic crisis continues its expansion out of the financial sector into the broader economy.
The fall over the month marked the longest run of monthly declines since 1999. However, some comfort can be taken from the fact that the drop was less than the 1.5% decrease in December.
Recent falls in industrial producer prices can be largely attributed to the reduction in energy prices. These fell 1.5% over the month, giving a total yearly decline of 2.7%.
In contrast with much of Europe, Britain’s producer prices increased by 3.2%, according to the figures provided by Eurostat, while France was one of the largest drags on the index, falling 2.9%.