Economic Buzz: Eurozone Producer Price Inflation Hit Record High

5 Sep 2022 , 03:06 PM

Eurozone producer price inflation accelerated unexpectedly to a fresh record high in July on soaring energy prices, data released by Eurostat showed. Producer prices surged 37.9 percent year-on-year in July, following a 36.0 percent rise in June, which was revised up from 35.8 percent. The upward trend in inflation was largely driven by a 97.2 percent jump in energy prices. On a monthly basis, producer prices increased at a faster rate of 4.0 percent in July, after a revised 1.3 percent rise in the prior month. Powered by Commodity Insights