Eurozone PPI up 0.9 percent in August

The industrial producer prices index rose respectively by 0.9 percent in eurozone and 1.0 percent in the European Union (EU) in August as compared with July, according to a report published Tuesday by Eurostat, the statistical office of the bloc. According to the report, the indices for both 17-member eurozone and 27-member EU rose by 2.7 percent on an annual base in August. The report shows that prices in total industry excluding energy sector increased by 0.3 percent in both eurozone and in EU on a monthly base, and up by 2.4 percent and 3.2 percent respectively in energy sector. Intermediate goods rose by 0.5 percent in the eurozone and 0.4 percent in the EU. In both zones, durable consumer goods gained 0.1 percent and non-durable consumer goods up by 0.3 percent, while capital goods remained stable. As for annual changes, prices in total industry excluding the energy sector increased by 1.0 percent in eurozone and by 1.1 percent in the EU, while prices in energy sector gained 7.9 percent and 7.2 percent respectively. Non-durable consumer goods rose by 2.1 percent in the eurozone and by 2.4 percent in the EU. Durable consumer goods increased by 1.6 percent in both zones. Capital goods gained 0.9 percent in the eurozone and 1.0 percent in the EU. Intermediate goods rose by 0.3 percent in both eurozone and the EU.