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Financial News: Eurozone Producer Price Inflation Weakest Since 2016

Eurozone Producer Price Inflation Weakest Since 2016

09/03/2019 - 06:03:00 (RTTNews)

(RTTNews) - Eurozone producer price inflation eased to the lowest since late 2016 in July largely reflecting weak energy prices, data from Eurostat showed Tuesday.

Producer prices grew 0.2 percent annually in July, as expected, following a 0.7 percent rise in June. This was the lowest inflation since November 2016, when the rate was 0.1 percent.

Energy prices declined 1.7 percent on year after easing 0.2 percent a month ago. Producer price inflation excluding energy came in at 0.6 percent versus 0.8 percent in June.

Month-on-month, producer prices rose 0.2 percent in July, in contrast to a 0.6 percent fall in June. This was the first increase in five months.

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