Producer prices up slightly in Europe

Producer prices in Europe rose in July following a month of stagnation, UPI quoted the European Commission's data office as saying Monday. Prices producers received rose 0.3 percent in the 17-member, one-currency eurozone and 0.4 percent in the 28-member European Union, Eurostat said. The increase follows two consecutive months of declines and a month, June, in which prices were unchanged in both regions. From a year earlier, producer prices in July were up 0.7 percent in the EU and 0.2 percent in the currency region. The numbers reflect an economy that has been in recession and is showing signs of recovery, as price movement suggests improved demand. The agency said producer prices excluding construction and energy was flat in July in the eurozone and the EU. Energy prices in the eurozone rose 0.8 percent month to month, while in the EU energy prices rose 1.2 percent from June. Prices received for durable goods dropped 0.1 percent in the currency region and remained flat in the EU. For non-durable goods, prices were up 0.2 percent in both regions.