Eurozone Producer Price Inflation Eases To 0.2%

(RTTNews) - Eurozone producer prices increased at a slower pace in July due to the fall in energy prices, Eurostat said on Wednesday.

Producer prices rose only 0.2 percent on a yearly basis compared to June's increase of 0.6 percent. Prices were forecast to rise 0.1 percent.

However, excluding energy, producer price inflation rose slightly to 1.0 percent from 0.9 percent.

Month-on-month, the increase in producer prices halved to 0.4 percent from 0.8 percent in June. The rate was above economists' forecast of 0.2 percent.

Among main industrial grouping, prices of intermediate and energy dropped 0.3 percent and 1.2 percent, respectively.

Prices of capital goods increased 1.8 percent from a year ago. Similarly, durable consumer goods and non-durable consumer goods prices moved up 1.7 percent and 1.9 percent, respectively.

In the EU27, producer prices gained 0.6 percent in July from a month ago and 0.4 percent from the previous year.