FXstreet.com (Barcelona) - Producer prices have fallen in November at its fastest pace ever on the back of sharp drops in energy prices, according to data released by Eurostat.

Prices at producer level have declined 1.9% in November, a widely sharper decrease than the 0.9% drop advanced by market analysts. The 1.9% drop is the largest fall in producer prices since records are collected in 1990.

The main deflationary contribution came from energy prices, excluding construction and energy, prices of all other products fell 0.8% in November.

Year on year producer prices have increased at a3.3% pace, following a 6.3% increase in October.