Thursday, French statistical office INSEE said the producer price index, or PPI, declined 0.6% month-on-month in February following a 2% fall in January. Producer prices dropped quicker than the expected fall of 0.4%.

On an annual basis, the PPI fell 4.5%, sharper than a 2.7% decline recorded in January and a 3.4% drop economists forecast.

Prices of manufactured products declined 0.6% after falling 1.9% in January. Compared to the previous year, they went down 5.2%.

Further, the statistical office said the drop in import prices of industrial products slowed to 0.5% in February from 1.4% recorded in January. On an annual basis, import prices slid 6%.

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