(Alliance News) - Eurozone producer prices rose at a faster pace than expected in June, numbers on Tuesday showed.

Eurostat said producer prices rose 0.6% on-year in June, picking up speed from a 0.3% rise in May, and topping the FXStreet cited forecast, which had predicted a 0.5% rise.

The largest annual hikes were seen in non-durable consumer goods, where prices rose 2.0%, and in capital goods, which registered a 1.7% increase. Energy prices edged down 0.1% on-year.

Eurozone producer prices rose 0.8% in June from May. They had fallen 0.6% in May from April.

The return to monthly producer price growth was spurred on by the energy sector, where prices spiked 3.2% in June from May. The monthly reading was in line with expectations.

By Eric Cunha, Alliance News news editor

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