In August, the Eurozone experienced a continued decline in producer prices primarily due to decreasing energy costs, according to data released by Eurostat on Thursday.
The annual producer price index fell by 2.3 percent, following a 2.2 percent decline in July. This was slightly above the anticipated drop of 2.4 percent.
When excluding the energy sector, producer price inflation remained stable at 0.3 percent for August.
Examining the major components of producer prices, energy prices experienced the most significant annual drop, falling by 7.7 percent. Prices for intermediate goods also saw a decrease, slipping by 0.8 percent in August.
Conversely, prices for capital goods and non-durable consumer goods increased by 1.4 percent and 1.1 percent, respectively, with durable consumer goods seeing a modest rise of 0.3 percent.
On a monthly scale, the producer price index increased by 0.6 percent, following a 0.7 percent increase in July. This surpassed economists' predictions, which had anticipated a 0.4 percent rise.
