Friday, the French statistical office INSEE announced that industrial producer prices for the domestic market declined 5.5% year-on-year in March. The pace of decline accelerated from the 4.5% logged in February. Economists had forecast a 5.3% slump for March.
Month-on-month, producer prices fell 0.4% in March after dropping 0.6% in February. The latest decrease was in line with economists' expectations.
The agency also reported that import prices declined 0.3% on a monthly basis in March, same as in February. On a year-on-year basis, import prices slid 6.7% in March due to a decline in prices of petroleum products and raw materials.
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