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Producer prices in the eurozone in July fell at the fastest pace in 14 years


September, 05 2023
watermark Economic news

In July of this year, producer prices in the eurozone decreased by 7.6% compared to July last year.


Thus, the indicator decreased for the third month in a row, and at the highest pace since 2009. Analysts also expected a decrease of 7.6%.


Such a sharp decrease in prices is due to a high comparison base due to a significant increase in energy prices last year. In July of this year, energy prices fell by 24.2% compared to last year.


In particular, the cost of means of production increased by 4.7%, and prices for consumer goods of durable and non-durable use increased by 5.1% and 7.6%, respectively.


It is also noted that on a monthly basis, producer prices in the eurozone decreased by 0.5%. This indicator has been falling for the seventh month in a row.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.