In June, Eurozone producer prices continued their downward trend primarily due to lower energy costs, according to data released by Eurostat on Monday.
On a year-over-year basis, producer prices fell by 3.2 percent in June, a slowdown compared to the revised 4.1 percent decrease observed in May. Analysts had anticipated a decline of 3.3 percent.
When energy is excluded, the Producer Price Index (PPI) showed a marginal drop of just 0.1 percent in June.
The data further revealed a 9.4 percent decline in energy prices, albeit less severe than the 11.3 percent drop recorded in the previous month. Prices for intermediate goods decreased by 2.2 percent.
Conversely, the prices of both durable and non-durable consumer goods rose by 0.4 percent and 1.2 percent, respectively. Additionally, the prices for capital goods increased by 1.6 percent.
On a monthly basis, producer prices recorded their first increase in eight months, rising by 0.5 percent in June compared to a 0.2 percent decline in the previous month. The consensus estimate had been for a 0.1 percent rise.
In the broader EU27, producer prices decreased by 0.5 percent on a monthly basis and declined by 3.1 percent annually in June.
