Producer prices up slightly in Europe

Producer prices in the European Union and eurozone rose by 0.4 percent June to July, the region's data office said Tuesday. Producer prices rose after dropping 0.5 percent in the eurozone and 0.8 percent in the European Union in June, Eurostat said. Compared to July 2011, prices have risen 1.8 percent in the 17-member eurozone and 1.5 percent in the 27-member EU. Excluding the volatile category of energy, prices rose 0.9 percent in the eurozone in July 2011 and 1 percent in the EU. The largest producer price gains were posted by Cyprus with prices up 6.9 percent. Hungary followed with producer prices up 6.1 percent. In Bulgaria and Romania producer prices rose 4.5 percent. Producer prices fell in Denmark (off 0.9 percent), Sweden (off 0.8 percent) and Britain (off 0.3 percent).