Austria’s producer price inflation continued to accelerate in February, mainly driven by strong price increases in the energy sector and intermediate goods manufacturing, preliminary data from Statistics Austria showed Wednesday.
The producer price index rose 18.9 percent year-on-year after an 18.4 percent increase in January. Prices jumped 43.9 percent in the energy sector and rose 19.1 percent in the intermediate goods industry. Producer prices climbed 3.1 percent in the capital goods manufacturing and 4.1 percent in the consumer goods industry. Compared to the previous month, producer prices rose 1.2 percent in February, after a 2.4 percent gain in the previous month.
The monthly increase was driven by strong rise in prices in metal production and processing, production of food and animal feed, and energy supply.