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Financial News: Eurozone Producer Price Inflation Accelerates In June

Eurozone Producer Price Inflation Accelerates In June

08/03/2021 - 06:03:00 (RTTNews)

(RTTNews) - Eurozone producer price inflation accelerated in June on higher energy prices, data from Eurostat showed Tuesday.

Producer prices increased 10.2 percent on a yearly basis in June, faster than the 9.6 percent growth posted in May but slightly slower than the economists' forecast of 10.3 percent.

Excluding energy, producer price inflation growth climbed to 5.6 percent from 4.9 percent in the previous month.

Among components of producer prices, energy prices registered the biggest annual growth of 25.4 percent annually in June, followed by a 10.6 percent rise in intermediate goods prices.

Prices of durable consumer goods and non-durable consumer goods grew 2.3 percent, each. At the same time, capital goods prices were up 2 percent.

On a monthly basis, producer prices gained 1.4 percent versus a 1.3 percent rise in May. The rate came in line with economists' expectations.

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