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Eurozone producer price inflation slows in July

Staff Writer |
Eurozone producer price inflation slowed more than forecasts in July, data from Eurostat showed Monday.

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Producer prices climbed 2.0% in July on year, slightly slower than forecasts for 2.1% increase. The June reading was revised to a 2.4 rise, which was originally reported as 2.5%.

Excluding energy, producer price inflation slowed to 2.1% from 2.2%.

The 2.0% increase in producer prices was primarily due to rises of 2.7% for intermediate goods and 2.4% for non-durable consumer goods.

Also, annual growth of 2.0% for energy prices and 0.9% climb for capital goods contributed to the annual increase in July. Durable consumer goods prices rose 0.5%.

On a monthly basis, producer prices were flat, as expected, following a revised 0.2% drop in June.

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