Producer-price inflation advances

Luxembourg: European producer-price inflation accelerated in July, led by higher costs for energy.

Factory-gate prices in the 17-nation euro region rose 6.1% from a year earlier after a 5.9% increase in June, the European Union’s statistics office in Luxembourg said.

Crude-oil costs have jumped 18% over the past year, adding pressure on companies to raise prices just as economic growth falters. Prices of durable consumer goods rose 1.8%.