Producer price index in the euro area rose by 0.4% in April

The producer price index in the euro area rose in April by 0.4%, which was above expectations (0.3%) and preceding reading (0.3%).
Annual producer price index rose by 2.4% in April, which was also above expectations (2.3%), but was below the increase in March (2.8%). The index produces substantial effect upon the market, which its increase creates favorable background for euro rate rise.

The producer price index excluding energy rose in April by 0.4% on month and 3.4% on year, compared with the increase by 0.3% and 3.4%, on month and year respectively in the preceding month.

Prices in energy sector rose in April by 0.5% on month and fell by 0.7% at the annual rate.