Euro area industrial producer prices see 4% monthly jump in July

By Aysu Bicer

ANKARA (AA) – Industrial producer prices in the euro area jumped 4% month-on-month in July, the biggest spike in four months, according to official data released on Friday.

The figure was much higher than market forecasts of 2.5%.

“Industrial producer prices in the euro area in July, compared with June, increased by 9.0% in the energy sector, by 1.2% for non-durable consumer goods, by 0.9% for durable consumer goods, by 0.8% for capital goods and by 0.1% for intermediate goods,” Eurostat, the EU’s statistical office, said in a report.

The highest monthly increases in industrial producer prices were recorded in Ireland (+26.1%), Hungary (+9.4%) and Bulgaria (+8.0%), while the largest decreases were seen in Portugal (minus 1.5%), Sweden (minus 1.2%) and Luxembourg (minus 0.9%).

On an annual basis, industrial producer prices in the euro area saw a surge of 37.9% in July, according to Eurostat.