RTTNews - Italy's domestic producer prices fell 7.2% year-on-year in June after a revised fall of 6.6% in May, the statistical office Istat said Friday. Economists had forecast a fall of 7.5%.
Domestic producer prices have been falling since the end of the last year on an annual basis, with each month, the pace accelerating.
On a monthly basis, prices recovered by growing 0.5% in June after stabilizing in May. That was the first increase since July 2008, while it rose more than the expected 0.2% rise.
External producer prices were down 3.5% year-on-year in June, unchanged from May, but rose 0.5% on a monthly basis.
Hence, the total producer price index in June fell 6.3% annually and grew 0.5% compared with May. In May, the index climbed 0.5% month-on-month and dropped 5.8% year-on-year.
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