Euro area’s PPI increased 0.8% MoM (vs 0.5% MoM expected) and 1.8% YoY in January, up from 1.4% YoY in December.

• Ex-energy PPI was up 0.4% MoM and was up 1.3% YoY. Energy costs were up the most at 1.7% MoM.
• Capital goods (0.7% MoM) and durable consumer goods (0.6% MoM) producer costs were relatively hot as well.