Eurozone annual producer price growth ahead of forecast in June
Eurozone producer prices rose at a faster pace than expected in June, numbers on Tuesday showed.
Eurostat said producer prices rose 0.6% on-year in June, picking up speed from a 0.3% rise in May, and topping the FXStreet cited forecast, which had predicted a 0.5% rise.
The largest annual hikes were seen in non-durable consumer goods, where prices rose 2.0%, and in capital goods, which registered a 1.7% increase. Energy prices edged down 0.1% on-year.
Eurozone producer prices rose 0.8% in June from May. They had fallen 0.6% in May from April.
The return to monthly producer price growth was spurred on by the energy sector, where prices spiked 3.2% in June from May. The monthly reading was in line with expectations.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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