Industrial prices surge in Europe
Berlin - Europe's industrial producer price index surged in May, data released Wednesday showed, adding to the prospects of the European Central Bank delivering its first rate hike in more than a year this week.
The European Union's statistics office, Eurostat, said annual industrial producer prices in the 15-member eurozone raced ahead by 7.1 per cent in May.
Industrial prices rose by 8.9 per cent in the European Union's 27 member states.
On a monthly basis, the eurozone's industrial producer price index rose by 1.2 per cent in May compared with April. The index rose by 1.3 per cent in the 27-member EU. In April, prices increased by 0.9 per cent and 1.1 per cent respectively. (dpa)
