Eurozone Producer Prices Decline Eases In June

(RTTNews) - Eurozone producer prices continued their falling trend in June, largely due to cheap energy costs, data published by Eurostat showed on Monday.

Producer prices fell 3.2 percent year-over-year in June, slower than the revised 4.1 percent decrease in May. Prices were expected to decline by 3.3 percent.

Excluding energy, the producer price index dropped only 0.1 percent in June.

Data showed that the decline in energy prices was 9.4 percent versus an 11.3 percent slump in the previous month. Prices for intermediate goods fell 2.2 percent.

Meanwhile, prices of durable and non-durable consumer goods gained 0.4 percent and 1.2 percent, respectively. Capital goods prices also advanced by 1.6 percent.

On a monthly basis, producer prices increased for the first time in eight months by 0.5 percent in June versus a 0.2 percent fall in the prior month. Prices were expected to rise by 0.1 percent. 

Producer prices in the EU27 decreased 0.5 percent monthly and by 3.1 percent annually in June.