Eurozone PPI Surges 1.6% in July Amid Energy Price Rebound

The Eurozone producer price index (PPI) surged in July, posting a monthly increase of 1.6% and an annual rise of 5.8%, according to data released by Action Forex.

This marked a significant rebound from the previous month's decline of -0.3%, exceeding the consensus forecast of +1.2%. Energy prices were the primary driver of the monthly jump, rebounding 5.6% and accelerating annual inflation to 12.9%

Excluding energy, producer prices remained unchanged on a monthly basis but edged higher annually, with intermediate-goods inflation rising from 6.1% to 6.3%. The increase in PPI was also widespread across the Eurozone, with Spain and Italy posting 3.0% increases and Germany and France rising by 1.1%