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The rate of industrial inflation across the eurozone unexpectedly cooled in April, according to data released on Monday.

Industrial producer prices rose 2 per cent year on year in April from the same month in 2017, compared with 2.1 per cent in March, according to data from Eurostat. Economists polled by Reuters forecast an increase to 2.4 per cent.

Energy prices rose 3.8 per cent, matching the pace from March, but up from 3 per cent at the end of 2017. Consumer inflation data for May, released last week, were pushed sharply higher by a rally in energy prices during that period.

Elsewhere, intermediate goods prices were up 2.1 per cent, while the price of capital goods climbed 1 per cent. Durable goods prices rose 0.9 per cent while those for non-durable goods increased 0.5 per cent.

In the broader European Union, producer prices were up 2.4 per cent on the back of a 5.3 per cent rise in energy prices.

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