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Inflation eases in Germany and France on May price cuts Eurozone industrial production falls in April
(39 minutes later)
Inflation eased in the eurozone's biggest economies during May as retailers cut prices, figures show. Output from eurozone factories fell by 0.8% in April, according to the latest official figures from EU body Eurostat.
The drop in industrial production was not as bad as feared, and March's figure was revised up to a 0.1% fall.
However, falling factory output is sign of slower economic activity. Eurozone GDP stagnated in the first quarter of the year and shrank at the end of 2011.
On Wednesday, Italian Prime Minister Mario Monti again called for a plan to boost EU growth.
Jonathan Loynes of Capital Economics said that while the latest industrial production figures were not as bad as expected, the data was still a bad sign.
"April's industrial production figures provide an early indication that the eurozone' s narrow escape from technical recession in Q1 is unlikely to last very long," he said.
Cheaper fuel
Separate figures showed that inflation eased in the eurozone's biggest economies during May as retailers cut prices.
In Germany, consumer prices rose 2.2% compared with a year earlier, based on the European Central Bank's favoured HICP measure.In Germany, consumer prices rose 2.2% compared with a year earlier, based on the European Central Bank's favoured HICP measure.
Cheaper fuel fed through into lower transport costs for households and firms in France, Germany and Italy.Cheaper fuel fed through into lower transport costs for households and firms in France, Germany and Italy.
French consumer prices were up 2.3% from last May. Italian inflation remained stubbornly high at 3.5%.French consumer prices were up 2.3% from last May. Italian inflation remained stubbornly high at 3.5%.