June data shows a 0.3% monthly decline in Eurozone producer prices, driven by lower energy costs, aligning with expectations.
Eurozone producer prices declined 0.3% month-over-month in June, in line with forecasts. The drop was primarily attributed to a 1.5% fall in energy prices, which offset gains in other sectors.
Excluding energy, producer prices rose 0.2% in June, following a 0.2% increase in May. Intermediate goods and capital goods both saw 0.3% and 0.2% gains, respectively, while non-durable consumer goods remained flat.
The report is seen as a lagging indicator, with energy prices rebounding in July, limiting its immediate impact on the euro area’s inflation outlook.