Output price inflation in the euro area remained unchanged in July, but exceeded economists' expectations, data released by statistical office Eurostat showed Tuesday.
The producer price index rose 1.8 percent year-on-year in July, as it did in the previous month. Economists had forecast a slower growth of 1.6 percent.
Output prices of energy products climbed 4.8 percent annually during the month, while capital goods prices rose 1 percent. Prices of durable consumer goods and non-durable consumer goods were higher by 1.9 percent and 2.1 percent respectively than a year earlier, data showed.
Month-on-month, output prices advanced 0.4 percent in July, recovering from the previous month's 0.5 percent decrease. Economists had forecast prices to rise 0.2 percent sequentially.
In the European Union, output prices moved up 0.4 percent compared to June, taking the annual growth to 1.5 percent, data showed.
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