Economic Buzz: Eurozone producer prices drop for third straight month

Eurozone producer prices dropped for the third straight month in May, largely due to the sharp fall in energy prices, data from Eurostat showed on Friday. Producer prices decreased 0.6 percent month-on-month in May, though slower than the 2.2 percent decline posted in April. The fall was driven by the 2.1 percent decrease in energy prices. On a yearly basis, producer price inflation eased to 0.3 percent from 0.7 percent in April.

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