Eurozone producer price index rose more than forecast in June

According to the report from Eurostat, in June 2020, a fourth month still marked by COVID-19 containment measures in most Member States, industrial producer prices rose, compared with May 2020, by 0.7% in both the euro area and EU. Economists had expected a 0.5% increase in the euro area. In May 2020, prices decreased by 0.6% in the euro area and by 0.5% in the EU.

In June 2020, compared with June 2019, industrial producer prices decreased by 3.7% in the euro area and by 3.4% in the EU.

Industrial producer prices in the euro area in June 2020, compared with May 2020, increased by 3.1% in the energy sector, by 0.2% for intermediate goods and by 0.1% for capital goods, while prices remained stable for durable consumer goods and decreased by 0.1% for non-durable consumer goods. Prices in total industry excluding energy remained stable.

In the EU, industrial producer prices increased by 3.3% in the energy sector, by 0.1% for both intermediate goods and capital goods, while prices remained stable for durable consumer goods and decreased by 0.1% for non-durable consumer goods. Prices in total industry excluding energy remained stable.

The highest increases in industrial producer prices were recorded in Estonia (+3.7%), Denmark (+3.3%) and Finland (+2.2%), while the only decreases was observed in Czechia (-0.1%).