Eurozone Producer Prices Continue to Fall in August 2024

Luxembourg City, 3 Oct (ONA) --- Eurozone producer prices continued to decline in August 2024 due to falling energy prices, data from Eurostat showed today.

Producer prices registered an annual fall of 2.3% after a 2.2% decrease in July 2024. Prices were forecast to drop 2.4%.

Excluding energy, producer price inflation held steady at 0.3% in August 2024.

Among major components of producer prices, energy posted the biggest annual fall of 7.7% annually.

Prices of intermediate goods also dropped in August 2024, down 0.8%. Meanwhile, capital goods and non-durable consumer goods prices grew 1.4% and 1.1%, respectively. Durable consumer goods moved up 0.3%.

On a monthly basis, the producer price index gained 0.6%, following a 0.7% rise in July 2024. Economists had forecast a 0.4% increase.

--- Ends/Khalid