Eurozone producer prices tick up 0.1% as expected

Producer prices in the eurozone ticked just a touch higher in July, marking their lowest monthly reading since April, according to the latest figures from Eurostat.

Producer prices were up 0.1% from June, in line with economists’ expectations and down from a 0.8% increase in June.

On the year, producer prices fell 2.8%, which was slightly less steep than the 2.9% drop expected and the 3.1% decline the month before.

Prices of non-durable consumer goods rose 0.3%, while prices of intermediate goods nudged up 0.1%. In the energy sector, prices fell 0.4%.

Prices in total industry excluding energy increased by 0.2%.

In the EU-28 group of nations, producer prices were also up 0.1% on the month and down 2.5% on the year.