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Financial News: Eurozone Producer Price Inflation Slows In July

Eurozone Producer Price Inflation Slows In July

09/04/2017 - 05:44:00 (RTTNews)

(RTTNews) - Eurozone producer price inflation slowed more than forecasts in July, data from Eurostat showed Monday.

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

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

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

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

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

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