Euro zone Aug producer prices rise slightly more than expected
5:28 am Tuesday, October 04th, 2022
BRUSSELS (Reuters) – Euro zone producer prices jumped slightly more than expected in August, data showed on Tuesday, driven mainly by continuously rising energy costs, but price increases excluding that most volatile component decelerated.
The European Union’s statistics office Eurostat said prices at factory gates in the 19 countries sharing the euro rose 5.0% month-on-month for a 43.3% year-on-year surge.
Economists polled by Reuters had expected a 4.9% monthly rise and a 43.1% annual increase.
Rocketing energy prices were the main driver of the overall index, rising 11.8% on the month and 116.8% year-on-year.
Without energy, producer prices rose only 0.3% month-on-month and 14.5% year-on-year in August, decelerating from 0.6% monthly and 15.1% annual rises the month before.
(Reporting by Jan Strupczewski; editing by Philip Blenkinsop)
