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Producer prices in the eurozone in July fell at the fastest pace in 14 years


Septembre, 05 2023
watermark Economic news

In July of this year, producer prices in the eurozone decreased by 7.6% compared to July last year.


Thus, the indicator decreased for the third month in a row, and at the highest pace since 2009. Analysts also expected a decrease of 7.6%.


Such a sharp decrease in prices is due to a high comparison base due to a significant increase in energy prices last year. In July of this year, energy prices fell by 24.2% compared to last year.


In particular, the cost of means of production increased by 4.7%, and prices for consumer goods of durable and non-durable use increased by 5.1% and 7.6%, respectively.


It is also noted that on a monthly basis, producer prices in the eurozone decreased by 0.5%. This indicator has been falling for the seventh month in a row.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.