Italian Producer Prices Grow In July

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9:29 GMT

Aug 2008

Italian Producer Prices Grow In July

(RTTNews) - Thursday, the Italian statistical office Istat said in a report that the producer price index, or PPI, rose 8.3% year-on-year in July, slightly faster than 8.2% recorded in June. Economists had expected the index to climb 8.4%.

Producer prices of petroleum products recorded the highest annual increase of 31.1% followed by 20.3% rise in the utility sector. Prices of minerals grew 11.3% and that of food beverages and tobacco rose 9.4%.

On a monthly basis, producer prices were up 0.5%, in line with the consensus forecast and at a slower pace compared to 0.8% rise recorded in June.

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