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Eurozone producer prices accelerate in August, led by energy

Producer prices excluding energy rose 0.2% month-on-month and accelerated to 3.4% year-on-year, signaling firmer underlying cost pressure beyond energy.

Reported · Written up by our desk · Inflation

Eurozone producer-price inflation re-accelerated in August, with industrial producer prices rising to 1.9% month-on-month from 1.6% and to 8.2% year-on-year from 5.8%, according to data cited by Action Forex. July readings were left unrevised.

Energy remained the dominant driver of the renewed headline pressure, as energy producer prices increased 5.6% month-on-month and 21.0% year-on-year. Action Forex also noted that producer prices rose month-on-month across all member states.

Excluding energy, producer prices rose 0.2% month-on-month and accelerated from 3.1% to 3.4% year-on-year. Intermediate-goods inflation strengthened to 6.8% year-on-year, while durable consumer goods rose 3.4% year-on-year and capital goods increased 2.6% year-on-year.

The release showed broader price pressure building through the production chain, Action Forex said, with non-durable consumer goods the main exception, still down 0.8% year-on-year.

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