Retail sales in the euro area unexpectedly shrunk in April

According to Eurostat, in April, retail sales in the euro area fell by 0.4% compared to March, when there was a zero growth. Economists had expected zero growth in April as well. Food and non-food products were sold 0.4% less than in the previous month. Euro area sales slowed growth in annual terms to 1.5% from 2%, noting the slowest rate in the last 4 months. According to economists, they were expected to grow at the level of 2%. The statistical offices of the European Union also published a report on the dynamics of producer prices in the euro area in April. Producer price inflation was 2.6%, slowing from the March level of 2.9%. Economists, on the contrary, expected its acceleration to 3.1%. Producer prices, which do not take into account the cost of energy carriers, increased by 1.2% in annual terms, while in monthly terms they fell by 0.3%.

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