Industrial producer prices in euro area rise 0.7 percent month-on-month in June

Industrial producer prices in the euro area were up 0.7 percent month-on-month in June, according to the estimates of Eurostat. In the European Union, the industrial producer prices were up 0.8 percent on a sequential basis. On an annual basis, prices dropped 3.1 percent in the euro area and 2.9 percent in the EU.

Euro area’s total industry industrial producer prices rose 0.7 percent on sequential basis in June. The increase is mainly because of the 2.4 percent increase in the energy sector, 0.3 percent rise in intermediate goods and due to the 0.1 percent rise in both non-durable consumer goods and capital goods. Meanwhile, prices continued to be steady for durable consumer goods. Excluding energy, prices in total industry rose 0.2 percent.

In the European Union, the 0.8 percent rise is because of 2.8 percent increase in the energy sector, 0.1 percent rise in capital goods and non-durable consumer goods and 0.3 percent rise in intermediate goods. Prices remained stable for durable consumer goods. Excluding energy, prices in total industry rose 0.2 percent.

On a year-on-year basis, the industrial producer prices in total industry in the euro zone dropped 3.1 percent, thanks to 8.7 percent drop in prices in energy sector, 0.5 percent decline in nondurable consumer goods and 2.6 percent drop in intermediate goods. Meanwhile, capital goods prices increased 0.4 percent, whereas prices increased 0.8 percent for durable consumer goods. Excluding energy, prices in total industry dropped 1 percent.