BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Euro area producer prices continued to fall in August, though the pace of decline slowed more-than-expected, preliminary data from Eurostat showed on Thursday.
Producer prices on the domestic market decreased 2.5 percent year-on-year following a 3.1 percent fall in July, which was revised from 3.3 percent. Economists had forecast a 2.7 percent decline.
In the energy sector, producer prices decreased 8.7 percent and in the intermediate goods industry, they fell 1.9 percent. Prices rose 0.3 percent for non-durable consumer goods and by 0.8 percent for capital goods. They increased 1.5 percent in the durable consumer goods industry.
Excluding energy, producer prices decreased 0.4 percent year-on-year in August.
Compared to the previous month, producer prices edged up 0.1 percent in August after a 0.7 percent increase in July, which was revised from 0.6 percent. The rise was in line with economists' expectations.
In the EU, the producer price index fell 2.3 percent annually in August after a 2.9 percent decline in the previous month. On a month-on-month basis, producer prices rose 0.2 percent after a 0.6 percent increase in July.
The monthly increase was the third in a row for both Eurozone and the EU.
Among the EU members, the biggest decreases in industrial producer prices were observed in Lithuania, Latvia and Italy, while prices rose only in Malta, Hungary and Slovenia.
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