Eurozone Producer Prices Fall For First Time In 4 Months

(RTTNews) - Eurozone producer prices declined for the first time in four months in June due to the fall in energy prices, Eurostat reported Wednesday.

Producer prices dropped 0.3 percent on a monthly basis in June, in contrast to the 0.2 percent increase in May. This was the first drop since February. Prices were forecast to fall 0.2 percent.

Excluding energy, producer prices were up 0.2 percent but slower than May's 0.7 percent increase.

Within the producer price index, only energy prices decreased from May, down 1.5 percent. Prices of capital and durable consumer goods grew 0.2 percent each. Prices of intermediate goods were up 0.3 percent, while non-durable consumer goods prices remained flat.

On a yearly basis, producer price inflation eased to a three-month low of 4.6 percent, as expected, from 5.9 percent in May.

Producer prices in the EU decreased 0.2 percent from May but increased 4.7 percent in June from the last year.