Euro Zone Producer Prices Fall at Speeds Unseen Since 1999

(CEP News) Frankfurt - Euro zone producer prices surprised to the downside in February, adding to mounting evidence that inflationary pressures are easing in the monetary union.

Eurostat reported that euro zone producer price fell 1.8% in the 12 months to February, outdoing both the 1.5% decline expected and January's 0.7% contraction. Meanwhile, January's figure was revised down from an initial estimate of -0.5%. February's annualized fall is the most pronounced recorded since April 1999.