Eurozone producer prices recover, driven by energy costs

Producer prices in the Eurozone rose 0.5% from the previous month in 2024/6, followed a 0.2% decline in May and exceeded expectations of a 0.4% increase.

This rise put an end to seven consecutive months of producer deflation, and the main reason for this increase is energy costs, which rose 1.6% from the 1.1% drop in May.

Intermediate goods, capital goods, and non-durable goods all rose 0.1% to the same figure as the previous month.

Durable consumer goods prices have remained flat since falling 0.3% in May.

Compared to the same month last year, producer prices fell 3.2%, and after falling 4.1% in May, they came close to the forecast of -3.3%.

PPI excluding energy rose 0.1% to the same level as May, but fell 0.1% on an annual basis.

Source: Eurostat