Eurozone producer prices rose more than expected in July, with PPI up 0.4% mom and 0.2% yoy, compared with consensus of 0.2% mom and 0.1% yoy. The data suggest some renewed pipeline pressures, largely driven by energy. Across the wider EU, PPI increased 0.6% mom and 0.1% yoy. Overall, the figures indicate modest upward pressure in the production pipeline.
Within the Eurozone, energy costs jumped 1.5% from June, offsetting a -0.2% decline in intermediate goods. Prices for capital goods rose 0.1%, durable consumer goods gained 0.2%, while non-durable consumer goods were flat. The mix highlights that energy remains the key source of volatility in producer prices, even as other categories remain stable or subdued.
Price dynamics varied sharply across member states. The largest monthly increases were recorded in Romania (+6.7%), Bulgaria (+5.7%), and Slovakia (+2.8%), while Estonia (-1.0%), Latvia (-0.7%), and Luxembourg (-0.4%) posted declines.
