Producer prices down in Europe

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BRUSSELS, Feb. 4 (UPI) -- Producer prices in the European Union and eurozone dropped by 0.2 percent November to December 2012, the region's data office said Monday.

Prices were down for the month, but remained higher for the year.

Compared with December 2011, producer prices were up 2.1 percent in the 17-member eurozone and 1.9 percent in the 27-member EU, Eurostat said.

Excluding the volatile category of energy, producer prices were stable from November to December. In the energy sector, prices were down 0.8 percent in the eurozone and 1 percent in the European Union as energy prices pushed the month-to-month decline.

Producer prices for durable goods dropped 1 percent in both the eurozone and the EU from November. Producer prices for intermediate and capital goods remained steady and producer prices for non-durable goods rose by 0.1 percent.