FX.co ★ Austria Producer Prices Fall 2.8%

Austria's producer prices decreased for the fifth successive month in November, largely due to cheaper energy costs, figures from Statistics Austria showed on Friday.

The producer price index dropped 2.8 percent year-over-year in November, slower than the 3.9 percent increase in October.

Energy prices alone fell by 11.0 percent annually in November, and those for intermediate goods slid by 2.8 percent.

"The falling producer prices point to a further decline in consumer prices in Austria in the medium term, even if inflation is currently largely determined by services," Tobias Thomas, director general at Statistics Austria, said.

On a monthly basis, producer prices edged up 0.1 percent from October, when they dropped by 0.1 percent.