BRUSSELS, (Reuters) – Eurozone producer prices rose more than anticipated in October due to an increase in energy prices. Unemployment eased as the economy continues its recovery from the pandemic-induced depression.

Eurostat, the European Union’s statistical office, said that prices at the factory gates of the 19 member countries who share the euro increased 5.4% month on month to a 21.9 percent increase in year-on.

Reuters polled economic experts and predicted a 3.5% monthly increase and a 19.0% year-over-year gain. Rising energy prices are the primary reason for the dramatic increase. They soared by 16.8% in the month and rose 62.5% year on year.

Consumer prices are higher due to producer prices. November’s headline inflation was 4.9%. This is a significant increase from the 4.1% recorded a month prior and is well above expectations of 4.5%.

Eurostat stated that the Euro zone’s unemployment rate continues to fall, dropping to 7.3% (as expected by economists polled at Reuters) in October. This is down from 7.4% reported in September.

Eurostat reported that the October number of unemployed people fell from 12.109 million September to 12.045 millions in October.