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Financial News: Eurozone Producer Prices Fall At Slower Pace In

Eurozone Producer Prices Fall At Slower Pace In July

09/02/2020 - 07:05:00 (RTTNews)

(RTTNews) - Eurozone producer prices continued to decline in July but the pace of annual fall slowed further, data from Eurostat showed Wednesday.

Producer prices fell 3.3 percent year-on-year in July, following a 3.7 percent decrease in June. Economists had forecast an annual fall of 3.4 percent.

Excluding energy, producer prices were down 0.4 percent annually versus a 0.5 percent drop a month ago.

The annual fall was largely driven by an 11.6 percent decrease in energy prices. Intermediate goods prices declined 2 percent.

Partially offsetting these declines, durable consumer goods prices gained 1.6 percent and non-durable consumer goods prices moved up 0.4 percent. Prices of capital goods advanced 0.9 percent.

Month-on-month, producer prices climbed 0.6 percent in July compared to a 0.7 percent rise in June. But this was faster than the expected increase of 0.5 percent.

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