- June PPI -0.3% vs -0.3% m/m expected
- Prior +0.2%
Euro area producer prices came in lower in June, matching estimates with a drop of 0.3% on the month. That being said, there is a big caveat to the figure with it owing mostly to a drop back in energy prices at the time. If you exclude energy prices from the equation, producer prices were actually up by 0.2% in June.
Mind you, energy prices have since seen a resurgence in July. As such, this report is very much a lagging data point. Thus, it’s not one that will have any material impact or consequence towards the current euro area economic and inflation outlook.
The breakdown for prices in the month of June shows:
- Intermediate goods +0.3%
- Energy -1.5%
- Capital goods +0.2%
- Durable consumer goods +0.2%
- Non-durable consumer goods 0.0%
This article was written by Justin Low at investinglive.com.