Producers’ selling prices soars to 20-year high, report says
Eurozone manufacturing purchasing managers’ index (PMI) fell to 55.5 in April, its lowest level in 15 months, according to a report by global data company IHS Markit released on Monday.
While the market expectation for the figure was to come at 55.3, its stood at 56.5 in March.
“Amid supply-chain challenges, input price inflation accelerated to a five-month high amid soaring fuel and energy costs,” IHS Markit said in a report.
“A renewed surge in costs, widely blamed on soaring energy prices and further upward pressure on prices paid for many other inputs amid shortages,led to the steepest rise in producers’ selling prices recorded in at least 20 years of comparable survey history,” it added.