Eurozone producer prices continued to decline in June, but at a slower pace from prior year, Eurostat reported Monday.
Producer prices were down 0.8 percent year-on-year in June, following May’s 1 percent decline. Producer prices were expected to drop again by 1 percent.
Excluding energy, producer prices slipped 0.1 percent annually compared to a 0.2 percent drop in May.
Costs of energy and intermediate goods decreased 2.3 percent and 0.9 percent, respectively. Partially offsetting these decreases, capital goods prices gained 0.4 percent and durable consumer goods by 1 percent. Non-durable consumer goods prices rose only 0.3 percent.
On a monthly basis, overall producer prices increased in June after decreasing every month of the year. Producer prices rose 0.1 percent, offsetting the 0.1 percent fall in May.
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