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Euro Area Industrial Producer Prices Pick Up in August

MNI (London)
--EMU August PPI 0.3% vs Rev 0.0% July
By Shaily Mittal
     LONDON (MNI) - Euro area industrial producer prices expanded in August,
rising by 0.3%, surpassing analysts' expectations of 0.1% growth.
     Industrial prices rose 0.3% on the month in August across the euro area,
following zero growth in July, revised down from 0.1% growth previously, making
it the first month of growth since January.
     In the European Union (EU-28), producer prices rose by 0.4% from 0.1%
growth in July (revised up from -0.3% previously), making it the second month of
     In August, on a monthly basis, EMU growth was predominantly led by the
energy sector, which rose 0.7%, marking the first period of growth since
January. Prices of durable consumer goods was up 0.1% following a contraction of
0.1% while that for non-durable goods also grew 0.1%, albeit slower from 0.3%
growth on the month in July. Intermediate goods prices grew by 0.2% following a
decline of 0.1%. In contrast, capital goods prices did not grow at all following
eight months of growth.
     On a monthly basis, the largest increases in PPI in the euro area were
recorded in Slovakia (0.9%), Belgium (0.8%) and Greece (0.7%). Among the largest
nations in the euro area, Germany saw its second month of growth, with PPI
rising by 0.2% on the month while that in France was up 0.4%.
     On an annual basis, PPI grew by 2.5% in August in EA-19, following a
downward revision of 2% in July from 3.2% previously. This marks the fastest
growth since May when prices grew by 3.4% (revised down from 4.1% previously). 
     On an annual basis, PPI rose by the fastest pace in EA-19 in Belgium (7.2),
Estonia (5.7%) and the Netherlands (4.3%). Among the largest nations in the euro
area, Germany's growth increased to 2.4% from 2.1% in July (revised down from
3.9% previously). Growth in prices in France rose to 2% y/y in August from 1.6%
(revised down from 3.6% y/y previously).
--MNI London Bureau; tel: +44 203-586-2225; email:
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MNI London Bureau | +44 203-865-3812 |

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