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- Eurozone producer price inflation slows in June
Eurozone producer price inflation slows in June
Eurostat, the statistical office of the European Union (EU) reported that industrial producer prices in the Eurozone fell by 0.1 percent m-o-m in June, following a revised 0.3 decrease m-o-m in May (originally a 0.4 percent m-o-m drop).
In y-o-y terms, industrial producer prices rose by 2.5 percent, following a revised 3.4 percent increase in May (originally a 3.3 percent gain). The figure was the lowest this year.
Economists had forecast the Eurozone's industrial producer prices in June would fall 0.1 percent m-o-m but raise 2.4 percent y-o-y.
According to the report, the June decrease in industrial producer prices was due to falls in prices in the energy sector (-0.3 percent m-o-m) and for intermediate goods (-0.2 percent m-o-m). These declines were partially offset by higher prices for capital goods (+0.1 percent m-o-m) and non-durable consumer goods (+0.2 percent m-o-m). Elsewhere, prices for durable consumer goods were stable.
The annual growth in industrial producer prices was underpinned by increases in prices in all groups. The prices for intermediate goods (+2.9 percent y-o-y) and in the energy sector (+2.9 percent y-o-y) recorded the biggest gains, followed by prices for non-durable consumer goods (+2.5 percent y-o-y), for capital goods (+0.9 percent y-o-y) and for durable consumer goods (+0.6 percent y-o-y).
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