Factory gate prices rise in eurozone

Luxembourg: Prices at factory gates in the 16-country eurozone rose as expected in August against July on the back of higher oil costs, but fell in annual terms, data shows.

Industrial producer prices rose 0.4% month-on-month after a revised 0.7% fall in July, the Luxembourg-based EU statistics office said.

They fell 7.5% year-on-year, after July’s revised 8.4% drop. Economists polled had on average expected the monthly increase but had forecast the annual decline to be slightly larger, at 7.6%.