Mubasher: Industrial producer prices grew 0.3% in both of the Eurozone and the 28-member European Union (EU28) in August, compared to July, according to data released on Tuesday.
In July, prices rose 0.7% and 0.5% month-on-month in the Eurozone and the EU28, respectively, data by the Eurozone’s statistical office, the Eurostat, revealed.
On an annual basis, Eurozone's industrial producer prices increased 4.2% in August, while prices in the EU28 grew 4.7%.
The industrial producer price inflation in Eurozone during August was backed by hikes of 0.9% in the prices for energy sector products, 0.2% for durable consumer goods and 0.1% for intermediate and non-durable goods.
Price inflation for the EU28 during the month was driven by a 1% increase for the prices of goods of the energy sector, 0.1% for intermediate and durable consumer goods, while they stabilised for capital and non-durable consumer goods.
Excluding energy costs, total prices were unchanged in the Eurozone last August, while they ticked up 0.1% for the EU28.
The highest increases in industrial producer prices were recorded in Latvia at 2.1%, Romania at 1%, Denmark at 0.8%.
No industrial price declines were seen for countries in the bloc, the Eurostat's data said.
By 9:15 am GMT, the EUR/USD pair dipped 0.60% to $1.1508.
