Eurozone industrial inflation accelerated to 8.2% in August — Anadolu Agency

Annual producer inflation in the eurozone accelerated to 8.2% in August, the highest level since February 2023. The figure exceeded the market forecast of 8.1%, Anadolu Agency reports, citing Eurostat data.

Energy products became the main factor

In July, annual producer price growth in the eurozone stood at 5.8%. On a monthly basis, prices rose by 1.9% in August after increasing by 1.6% a month earlier.

Energy products saw the largest increase: their prices rose by 21% year-on-year and by 5.6% compared with July. Excluding energy products, industrial prices in the eurozone increased by 3.4% over the year and by 0.2% over the month.

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Price dynamics in the EU

Prices for intermediate goods in the eurozone rose by 6.8% over the year. Capital goods became 2.6% more expensive, durable consumer goods rose by 3.4%, while prices for non-durable consumer goods fell by 0.8%.

In the European Union, industrial prices rose by 8% year-on-year and by 1.9% month-on-month in August. The highest annual growth was recorded in Ireland, at 17.1%, Bulgaria, at 16.8%, and Lithuania, at 14.6%. Luxembourg was the only EU country where producer prices declined, by 7.9%.