Published EU data showed, that while eurozone producer prices slowed somewhat in June (+0.9% versus +1.2% in May), the annual increase climbed to a new record high (+8.0% after +7.1% month earlier). This compares to a recent low of +1.8% y/y last summer. The annual rate was last this high in June 1982, when it hit +8.61%. The month-on-month reading matched a median forecast of analysts while the year-on-year result was a shade above expectations. The most significant impact has come from energy, which accounts for 17.6% of the PPI basket, and from non-durable consumer goods, which include processed foods and account for 25.7% of the basket.