Euro-area producer prices rose 1.9% in August as a sharp increase in energy costs pushed overall producer InflationInflation refers to a sustained rise in the general price level that reduces the purchasing power of money. The term belongs in Level 7 because it helps connect macro conditions...Read More higher. The data highlights renewed cost pressures for businesses and could add to concerns about inflation across the euro area.
Euro-area industrial producer prices rose 1.9% in August from July and 8.2% from a year earlier, Eurostat said. Energy prices were the main monthly driver, jumping 5.6%, while prices excluding energy increased only 0.2%. On an annual basis, energy producer prices were 21.0% higher and total industry excluding energy was up 3.4%. The figures add evidence that the latest energy shock is feeding rapidly into upstream costs, increasing scrutiny of how much producer-price pressure ultimately reaches consumer inflation and European Central BankCentral Bank refers to the public monetary authority responsible for managing a currency system and implementing monetary policy. The term belongs in Level 7 because it helps co...Read More policy.
