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Eurozone producer prices fall in June amid lower energy costs

June producer prices declined 0.3% on the month, while core readings excluding energy rose 0.2%, and the energy-driven dip is described as lagging given energy prices rebounded in July.

Reported · Written up by our desk · Central Banks

Eurozone producer prices fell in June, matching expectations for a 0.3% month-on-month decline, according to Forexlive.

The report cautioned that the drop was largely driven by lower energy prices at the time, noting that excluding energy would have shown producer prices up 0.2% in June.

Forexlive also said energy prices have since risen in July, calling the June data a lagging indicator and suggesting it is unlikely to materially affect the near-term euro area economic or inflation outlook.

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