UK markets close in 2 hours 58 minutes
  • FTSE 100

    7,123.86
    +18.14 (+0.26%)
     
  • FTSE 250

    23,347.73
    +58.08 (+0.25%)
     
  • AIM

    1,258.88
    +0.19 (+0.02%)
     
  • GBP/EUR

    1.1740
    +0.0015 (+0.12%)
     
  • GBP/USD

    1.3900
    -0.0015 (-0.1070%)
     
  • BTC-GBP

    27,233.98
    -492.53 (-1.78%)
     
  • CMC Crypto 200

    938.74
    +11.98 (+1.29%)
     
  • S&P 500

    4,402.66
    -20.49 (-0.46%)
     
  • DOW

    34,792.67
    -323.73 (-0.92%)
     
  • CRUDE OIL

    68.47
    -2.09 (-2.96%)
     
  • GOLD FUTURES

    1,813.60
    -0.50 (-0.03%)
     
  • NIKKEI 225

    27,584.08
    -57.75 (-0.21%)
     
  • HANG SENG

    26,426.55
    +231.73 (+0.88%)
     
  • DAX

    15,692.13
    +137.05 (+0.88%)
     
  • CAC 40

    6,746.23
    +22.42 (+0.33%)
     

Euro zone producer prices accelerate in May

·1-min read
FILE PHOTO: Workers assemble campers at Knaus-Tabbert AG factory in Jandelsbrunn

BRUSSELS (Reuters) - Euro zone producer prices accelerated in May, driven by a surge in energy prices, data from the European Union's statistics office Eurostat showed on Friday.

Eurostat said prices at factory gates in the 19 countries sharing the euro rose 1.3% month-on-month for a 9.6% year-on-year increase.

Changes in prices at factory gates are usually transmitted to final consumers and therefore herald trends in inflation that the European Central Bank targets with its monetary policy.

Euro zone inflation eased in June to 1.9%, levelling off for the summer months before an expected move well above the ECB's target towards the autumn on higher commodity prices.

The ECB wants to keep consumer price growth "below but close to 2%" over the medium term.

The rise in intermediate goods' prices remained the same in May against April, at 1.8%, with energy costs registering the third-biggest increase of 2.1%. But in year-on-year terms, energy contributed the most, with prices surging 25.1% against May 2020, while intermediate goods were up 9.2%.

For Eurostat release, click on:

http://ec.europa.eu/eurostat/news/news-releases

(Reporting by Marine Strauss @StraussMarine)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting