02.09.202011:05:00UTC+00Eurozone Producer Prices Fall At Slower Pace In July

Eurozone producer prices continued to decline in July but the pace of annual fall slowed further, data from Eurostat showed Wednesday.

Producer prices fell 3.3 percent year-on-year in July, following a 3.7 percent decrease in June. Economists had forecast an annual fall of 3.4 percent.

Excluding energy, producer prices were down 0.4 percent annually versus a 0.5 percent drop a month ago.

The annual fall was largely driven by an 11.6 percent decrease in energy prices. Intermediate goods prices declined 2 percent.

Partially offsetting these declines, durable consumer goods prices gained 1.6 percent and non-durable consumer goods prices moved up 0.4 percent. Prices of capital goods advanced 0.9 percent.

Month-on-month, producer prices climbed 0.6 percent in July compared to a 0.7 percent rise in June. But this was faster than the expected increase of 0.5 percent.