According to a report released by Eurostat, the Statistical Office of the European Communities, in October this year industrial producer prices went up by 0.2 percent in both the euro area and European Union member states (EU), month on month. On year-on-year basis, in the given month, industrial producer prices were down by 9.4 percent in the euro area and by 8.7 percent in the EU.
In October, compared with September, prices in the energy sector were up by 1.0 percent in the euro area and by 0.6 percent in the EU. Prices of capital goods remained stable in both areas, while prices of durable goods increased 0.1 percent in the euro area and were unchanged in the EU, month on month. In the same month, prices of non-durable goods were down 0.1 percent in both areas, while prices of intermediate goods decreased by 0.3 percent in both the euro area and the EU, all on month-on-month basis.
Among member states for which data are available, the largest month-on-month increases in industrial producer prices were recorded in Ireland (+4.9%), Italy (+2.2%) and the Netherlands (+0.7%), while the largest decreases were observed in Luxembourg (-3.7%), Latvia (-2.7%) and Greece (-1.9%).
In the given month, compared with October 2022, prices in the energy sector fell by 25.0 percent in the euro area and by 22.7 percent in the EU. Prices of intermediate goods decreased by 5.3 percent in both areas, while prices of durable goods were up by 3.7 percent in the euro area and by 3.1 percent in the EU, all on year-on-year basis. In the same month, prices of non-durable goods moved up by 4.2 percent in the euro area and 4.0 percent in the EU, year on year. Prices of capital goods rose by 3.7 percent in the euro area and 3.5 percent in the EU, year on year.
Among member states for which data are available, the largest year-on-year increases were recorded in Luxembourg (+18.4%), Slovenia (+2.5%) and Slovakia (+1.1%), while Bulgaria (-25.9%), Belgium (-20.5%) and Greece (-14.7%) posted the biggest declines.