Eurozone Producer Prices Increased More Rapidly in June
Eurozone producer prices climbed at a faster pace since April 2017 in June. The Eurostat reported, that producer prices advanced 3.6% annually in June, faster than the 3% rise in May. This was also faster than the expected 3.5%. On a monthly basis, producer price inflation halved to 0.4% from 0.8%. Economists had forecast a 0.3% growth. The growth was lifted mainly by more expensive energy.
Excluding energy, producer price growth increased to 1.6% in June from 1.4% in May. Prices of energy logged the biggest increase of 9.5%. At the same time, intermediate goods prices and durable consumer goods prices gained 3% and 1.1%, respectively. Non-durable consumer goods prices rose only 0.1% in June.