Economic Buzz: Eurozone producer prices up 1.6% in July

Producer prices in the Eurozone and the entire European Union rose by 1.6% and 1.4% on a monthly basis in July, respectively, the European Commission's statistical office, Eurostat, revealed in a report released on Thursday. Meanwhile, year-over-year, the index recorded a 5.8% growth in the euro area and a 5.6% growth in the EU.

In the Eurozone, energy prices increased by 5.6% monthly, while intermediate goods prices stayed stable. Across the bloc, energy rose by 4.7%, with intermediate goods prices increasing by 0.1%. Durable consumer goods prices remained steady, and capital goods prices grew by 0.3% in the euro area. In the EU, prices for durable consumer goods increased by 0.2%, and capital goods rose by 0.3%. Prices for non-durable consumer goods declined in both the Eurozone and the bloc, by 0.1% and 0.2%, respectively.

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