Producer prices in the Eurozone rose slightly more than expected in August, according to data released on Tuesday, fueled by rising energy costs, but price increases excluding the most volatile component slowed.
According to Eurostat, the EU’s statistical office, prices at factory gates in the 19 nations using the euro increased by 5.0% month-over-month and 43.3% year-over-year.
In a Reuters poll of economists, they predicted a monthly gain of 4.9% and an annual increase of 43.1%.
In August, industrial producer prices in the Euro area rose by 11.8% in the energy sector, 0.8% in the non-durable consumer goods sector, 0.4% in the capital goods sector, 0.3% in the durable consumer goods sector, and 0.1% in the intermediate goods sector.
Without energy, producer prices increased by 0.3% month on month and 14.5% year on year, slowing from 0.6% monthly and 15.1% annual increases the previous month.