Euro Area Producer Prices Fall in June

Producer prices in the Euro Area decreased 0.3% month-over-month in June 2026, the first fall in four months, following a 0.2% gain in May and in line with expectations. Energy cost decreased 1.5%, after a 1% fall in May amid a fall in oil prices after a ceasefire between the US and Iran. Prices also rose at a slower pace for intermediate (0.3% vs 1.4%), capital (0.2% vs 0.3%) and durable goods (0.2% vs 0.3%). In addition, prices stalled for non-durable goods, following a 0.1% fall in May. Among the bloc's largest economies, prices fell in Germany (-0.3%), France (-0.6%), and the Netherlands (-1.1%) and stalled in Italy while rising 0.1% in Spain. Year-on-year, producer prices went up 4.6%, easing from a 5.9% rise in May which was the highest since March 2023.

Producer prices in the Euro Area increased 0.2% month-over-month in May 2026, following an upwardly revised 0.7% rise in April, in line with market expectations. Energy prices fell 1% in May, extending a 0.2% decrease in April as oil prices returned to pre-war levels. Excluding energy, producer prices increased 0.7%, easing from a 0.9% rise in the previous month. Among the main components, prices slowed for intermediate goods (1.4% vs 1.8%), and capital goods (0.2% vs 0.4%). Also, non-durable consumer costs decreased by 0.1%, and durable consumer goods inflation was steady at 0.3%, unchanged from April. Across the Eurozone's largest economies, producer prices moderated in Germany (0.2% vs 1.2%) and Spain (0.9% vs 2%), while prices declined in Italy (-0.5% vs 0.1%) and France (-0.3% vs -2%). On an annual basis, producer prices advanced 5.9% in May, the strongest increase since March 2023.

Eurozone producer prices rose 3.4% month-over-month in March 2026, reversing February’s 0.6% decline and slightly exceeding market expectations of 3.3%. This marked the steepest monthly increase since August 2022, primarily driven by an 11.1% surge in energy prices amid the Iran war, the sharpest rise since January 2022. Additional upward pressure came from intermediate goods (0.7% vs. 0.3% in February), non-durable consumer goods (0.3% vs. -0.2%), capital goods (0.2%, unchanged from February), and durable consumer goods (0.2%, unchanged from February). Excluding energy, producer prices increased 0.5% in March, following a 0.1% gain the previous month. Year-over-year, producer prices climbed 2.1%, rebounding from February’s 3.0% decline and surpassing forecasts of 1.8%.