Eurozone July Producer Price Inflation Matches Expectations

(RTTNews) - Eurozone producer prices rose in line with economists' expectations in July.

The producer price index or PPI climbed 4% year-on-year in July, faster than 3% in June, Eurostat said Thursday. The figure matched economists' expectations. Month-on-month, the PPI rose 0.2% in July, a tad slower than June 0.3%. Economists were looking for a 0.1% increase.

Excluding the energy sector, the PPI increased 2.0% in the euro area from last year. From June, the rise was 0.1%. Energy prices gained 9.7% year-on-year and 0.6% from the previous month.

In EU27, factory prices grew 4.4%, after rising 3.5% in the previous month. On a monthly basis, the increase was 0.2% following June's 0.3% rise. Stripping off energy prices, the PPI increased 10% from last year and 0.1% from June.