Eurozone producer prices unexpectedly drop in August

Eurozone producer prices unexpectedly edged lower in August, according to the latest figures from Eurostat.

Producer prices fell 0.2% from July compared to expectations for a 0.1% increase.

On the year, prices were down 2.1%, in line with economists’ expectations.

Energy sector prices fell 0.8% and prices of intermediate goods declined 0.1%. Prices for both capital goods and durable consumer goods were stable, while prices for non-durable consumer goods were up 0.1%.

Excluding energy, prices in total industry were stable.

In the EU-28 group of nations, producer prices were down 0.2% on the month and 1.6% on the year.