DATA SNAP: Italy Aug Producer Prices -6.7% On Year

ROME -- Italy's producer price index in August fell less than expected on the year, as energy prices dropped at a slower pace, data from statistics office Istat showed Wednesday.

In August, producer prices fell 6.7% on the year, after a downwardly revised 7.6% annual fall in July. On the month, producer prices rose 0.6%, compared with a downwardly revised 0.5% fall in July.

A poll of economists predicted a 7.3% fall on the year and a 0.5% rise on the month.

Italian manufacturing prices have been falling every month since December 2008, due to lower energy prices and the slowing economy, which fell into a recession last year.