Eurozone monthly producer inflation at 0.6% in August

By Gokhan Ergocun

ADANA, Türkiye (AA) - The monthly increase in industrial producer prices in the euro area was at 0.6% in August, Eurostat revealed on Thursday, while the rate was at 0.4% for the EU.

On a yearly basis, producer prices went down by 2.3% in the euro area and 2.1% in the EU in August, the 27-member bloc's statistical office stated.

Month-on-month, in the euro area, industrial producer prices decreased by 0.1% for intermediate goods, while increased by 1.9% for energy and 0.1% for capital goods, and remained stable for durable consumer goods, and non-durable consumer goods.

In the EU, prices decreased by 0.1% for both intermediate goods and durable consumer goods, and increased by 0.1% for non-durable consumer goods, 0.2% for capital goods, and 1.1% for energy.

The highest monthly increase in industrial producer prices was seen in Estonia (2.2%), and the largest decrease was observed in Ireland (3.8%).

On a yearly basis, prices in the euro area decreased by 0.8% for intermediate goods and 7.7% for energy, while increased by 0.3% for durable consumer goods, 1.1% for non-durable consumer goods and 1.4% for capital goods.

In the EU, prices decreased by 0.8% for intermediate goods and 7% for energy, while increased by 0.1% for durable consumer goods, 1% for non-durable consumer goods, and 1.7% for capital goods.

Slovakia posted the largest annual decrease in industrial producer prices (18.3%), and Romania saw the highest increase (2.8%).