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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone PPI MoM climbed to 1.6% in November 2024
FMPMonthlyReleased January 2025
Eurozone PPI MoM climbed to 1.6% in November 2024, released January 2025, up 1.2% from October's 0.4% reading. The print came in hotter than the 1.5% consensus, a hotter print than forecasters anticipated. PPI MoM has now risen for 3 consecutive months. Over the past 3 months, PPI MoM averaged -0.1%, vs 0.63% in the prior 3-month window. PPI MoM is now the highest in 26 months.
Latest Release
1.6
Actual
1.5
Consensus
0.4
Previous
Median Absolute Error
±0.18 percentage points
across last 12 releases
Last Call
Jan 2025
Predicted: 1.5
Actual: 1.6
Error: -0.1
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.50 | FOREX | Moves with | → View |
| EUR/JPY | ▲ Direct | +0.45 | FOREX | Moves with | → View |
| EUR/GBP | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
PPI MoM (European Union) was reported at 1.6% in January 2025. This beat the market consensus of 1.5% by 0.1%. The reading rose from the previous value of 0.4%.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 0.47%, down from the prior three at 0.63%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with EUR/JPY, positively correlated (Bullish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 0.18%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include ECB President Lagarde Speech (Oct 27) and ECB Lagarde Speech (Oct 27).
Auto-generated from current model state · Refreshes on each release · Last update January 2025.
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PPI MoM - EU
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About PPI MoM — European Union
DEFINITION
PPI MoM stands for Producer Price Index Month-over-Month and is a key economic indicator used to measure the average change in prices received by domestic producers for their goods and services over a one-month period. This indicator provides valuable insights into inflationary pressures in the economy and is closely monitored by policymakers, investors, and businesses to make informed decisions. A higher PPI MoM indicates rising prices, while a lower PPI MoM suggests a decrease in prices, making it an essential tool for understanding the current state of the economy.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Nov 2024): actual 1.6 %, consensus 1.5 %. Prior reading (Oct 2024): 0.4 %. Before that (Sep 2024): -0.6 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with EUR/USD (Bullish EUR, r=0.50) — a useful reference for forex-focused traders.
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Economic Calendar - EU Events
| Tuesday, October 27, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:00 | EU | Loans to Companies YoY | 4.2 | 4.2 | 4.15 | Low | |
| 09:00 | EU | Loans to Households YoY | 3.1 | 3.1 | 3.05 | Low | |
| 09:00 | EU | M3 Money Supply YoY | 3.5 | 3.6 | 3.60 | Low | |
| 09:00 | EU | Private sector loans YoY | 3.1 | 3.1 | 3.05 | Low | |
| Thursday, October 29, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 10:00 | EU | Industrial Sentiment | -3.8 | -4 | -4.00 | Low | |
| 10:00 | EU | Consumer Inflation Expectation | 35.2 | 38 | 38.00 | Low | |
| 10:00 | EU | Selling Price Expectations | 20.3 | 22 | 22.00 | Low | |
| 10:00 | EU | Services Sentiment | 6.1 | 5.5 | 5.50 | Low | |
| 10:00 | EU | Economic Sentiment | 18.5 | 97.9 | 97.2 | 57.85 | Medium |
| 10:00 | EU | Consumer Confidence | -16.5 | -17 | -17.00 | Low | |