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Economy And The Numbers

Eurozone Producer Prices Continue To Fall In August

By Renju Jaya   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Eurozone producer prices continued to decline in August due to falling energy prices, data from Eurostat showed Thursday.

Producer prices registered an annual fall of 2.3 percent after a 2.2 percent decrease in July. Prices were forecast to drop 2.4 percent.

Excluding energy, producer price inflation held steady at 0.3 percent in August.

Among major components of producer prices, energy posted the biggest annual fall of 7.7 percent annually. Prices of intermediate goods also dropped in August, down 0.8 percent.

Meanwhile, capital goods and non-durable consumer goods prices grew 1.4 percent and 1.1 percent, respectively. Durable consumer goods moved up 0.3 percent.

On a monthly basis, the producer price index gained 0.6 percent, following a 0.7 percent rise in July. Economists had forecast a 0.4 percent increase.

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