Producer Prices in EU, Euro Area Climb for 13th Straight Month

Source: Eurostat

Industrial producer prices in both the European Union and the Euro area climbed by 1.4% in June, marking the 13th straight month of increases.

• Producer prices in both the EU and the Euro area rose by 1.4% in June. Prices grew by 1.3% in the Euro area and 1.4% in the EU in May.
• Prices surged by 10.2% in the Euro area and by 10.3% in the EU in June 2020.
• Price increases in both areas in June were attributed to increases in the energy sector which grew 3.3% in the Euro area and 3.4% in the EU from the previous month.
• Year-on-year growth of the energy sector climbed 25.4% in the Euro area and 24.8% in the EU.
• In the Euro area, intermediate goods climbed 1.3%, followed by capital goods with 0.4% and durable and non-durable consumer goods with 0.3%.
• The EU recorded a 1.4% climb in intermediate goods, followed by 0.4% in capital goods and non-durable goods, and 0.3% in durable consumer goods.
• The biggest price increases were seen in Denmark, Estonia, and Latvia. The only decline was seen in Ireland.