The European Statistical Office (Eurostat) has published the May PPI data of the European Union (EU) and Eurozone.

According to the data, the PPI in the EU decreased by 1.8 percent in May compared to the previous month and by 0.5 percent compared to May 2022.

In the Euro Zone, the PPI fell by 1.9 percent on a monthly basis and 1.5 percent on an annual basis in May.

Market expectations were that the PPI in the Euro Area would decrease by 1.8 percent monthly and 1.3 percent annually. Thus, PPI fell more than expected in the Euro Area.

Among EU countries, PPI increased the most in Hungary with 36.3 percent, Slovakia with 21 percent and Latvia with 12 percent in May. Annual PPI fell by 10.6 percent in Greece, 9.7 percent in Ireland and 9.6 percent in Belgium.

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