Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Euro zone producer prices accelerate again in June

08/03/2021 | 05:39am EDT
A Square payment device is seen in a cafe after it was announced they would buy Australia's Afterpay in $29 billion deal in Manhattan, New York City

BRUSSELS (Reuters) - Euro zone producer prices accelerated in June, driven by a further surge in energy prices and underscoring the view that inflation in the single currency area has further to rise.

The European Union's statistics office Eurostat said on Tuesday that prices at factory gates in the 19 countries sharing the euro rose 1.4% month-on-month for a 10.2% year-on-year increase.

The latter figure was little different from the 10.3% average expectation in a Reuters poll of economists and marked a seventh-month rising trend since a 2.0% decrease in November.

In May, prices were up 1.3% in the month and 9.6% from a year earlier.

Changes in prices at factory gates are usually transmitted to final consumers and therefore herald trends in inflation that the European Central Bank targets with its monetary policy.

Euro zone inflation increased in June to 2.2%, pushing past the ECB's 2% target, although policymakers insist it is a temporary spike that will not force them to adjust policy.

Economists believe inflation could reach 3% by year-end before falling back.

Among producer prices, those for energy increased by 3.3% month-on-month, for a 25.4% rise from a year earlier.

The monthly rise in prices of intermediate goods, such as steel, wood or salt, eased to 1.3% in June from 1.7% in May. They are 10.6% higher than in June 2020.

Producer prices of durable and non-durable goods were each up 0.3% month-on-month and 2.3% year-on-year, while for capital goods, such as machinery, they were 0.4% higher than in May and 2.0% higher than in June 2020.

Excluding energy, prices were 0.7% up in the month, for an annual increase of 5.6%.

For Eurostat release, click on:

http://ec.europa.eu/eurostat/news/news-releases

(Reporting by Philip Blenkinsop)


© Reuters 2021
Latest news "Economy & Forex"
09/19CHINA, RCEP MEMBERS WORK TO IMPLEMENT TRADE PACT ON SCHEDULE : Moc
PU
09/19China's Chongqing posts foreign trade growth in Jan-Aug
PU
09/19Spacex capsule safely splashes down in atlantic off florida with first all-civilian crew ever launched to orbit, live webcast shows
RE
11:39pEuropean Union-style bloc pitched for Latin America, Caribbean
RE
10:16pU.s. cdc reports total deaths of 670,565 due to coronavirus as of yesterday vs 668,442 in previous report on sept 17
RE
10:16pU.S. CDC Reports Total Novel Coronavirus Cases Of 41,915,285 As Of Yesterday Versus 41,754,903 In Previous Report On Sept 17
RE
10:15pU.s. cdc reports total novel coronavirus cases of 41,915,285 as of yesterday versus 41,754,903 in previous report on sept 17
RE
10:14pU.s. cdc says 2.11 mln people received an additional covid-19 vaccine dose since august 13, 2021
RE
10:13pU.s. cdc says 181,035,022 individuals have been fully vaccinated against covid-19 as of sept 18 versus 180,572,171 individuals as of sept 17
RE
10:13pU.s. cdc says 211,489,242 individuals have received at least one dose of covid-19 vaccine as of sept 18 versus 211,097,597 individuals as of sept 17
RE
Latest news "Economy & Forex"