Producer price gains muted in Europe

Producer prices in Europe rose modestly in the eurozone and the European Union November to December, Eurostat said Tuesday. Prices rose 0.2 percent in both regions after dropping 0.5 percent in both regions in October and sliding 0.1 percent in November, the European Commission's data office said. Producer prices excluding construction and energy costs were flat month to month in both regions. Prices for intermediate goods capital goods and durable consumer items were all stable, the commission said. Energy prices rose 0.5 percent in the eurozone and 0.7 percent in the EU as a whole. Prices received by producers dropped 0.3 percent from December to December in the eurozone and by 0.1 percent in the EU, Eurostat said.