Producer prices in the eurozone fell in July

The European Statistical Office (Eurostat) has published the PPI data for July for the European Union (EU) and the Eurozone.

According to the data, the PPI in the EU decreased by 0.6 percent in July compared to the previous month and by 6.6 percent compared to July 2022.

In the euro zone, the PPI fell 0.5 percent on a month and 7.6 percent on a yearly basis in July.

Market expectations were that the PPI in the euro zone would decline by 0.6 percent per month and 7.6 percent annually.

Thus, the PPI for the euro area was close to expectations on a monthly basis and in line with annual expectations.

HIGHEST RISE IN IRELAND

Among EU countries, the PPI declined the most in Ireland at 39.5 percent, Bulgaria at 18.1 percent and Italy at 13.8 percent annually in July.

The annual PPI increased 18.8 percent in Hungary, 17.8 percent in Slovakia, and 6.8 percent in Slovenia.

On a monthly basis, the PPI decreased 8.1 percent in Ireland, 2.6 percent in the Netherlands, and 1.8 percent in Sweden, while it decreased 2.2 percent in Latvia, 1.7 percent. percent in Slovakia and 1 percent in Croatia. (AA)