Producer prices in Austria increased 0.7% year-on-year in February, at a slower pace compared to a 0.9% rise in the previous month, the Statistics Austria said Friday.

The statistical office said producer price inflation slowed on an annual basis mainly due to a drop in energy prices. Energy prices slipped 4.9% year-on-year in February, after falling 3.9% in January.

Month-on-month, producer prices fell 0.1% in February compared to a 0.2% rise in January.

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