According to a report released by Eurostat, the Statistical Office of the European Communities, in August this year industrial producer prices went up by 0.6 percent in the euro area and 0.4 percent in the European Union member states (EU), month on month. On year-on-year basis, in the given month, industrial producer prices were down by 2.3 percent in the euro area and by 2.1 percent in the EU.
In August, compared with July, prices in the energy sector were up by 1.9 percent in the euro area and 1.1 percent in the EU. Prices of capital goods increased by 0.1 percent in the euro area and 0.2 percent in the EU, while prices of durable goods remained stable in the euro area and decreased by 0.1 percent in EU countries, month on month. In the same month, prices of non-durable goods also went unchanged in the euro area and grew by 0.1 percent in EU countries, while prices of intermediate goods decreased by 0.1 percent in both areas.
Among member states for which data are available, the largest month-on-month increases in industrial producer prices were recorded in Estonia (+2.2%), Greece (+1.7%) and Spain (+1.5%), while the largest decreases were observed in Ireland (-3.8%), Lithuania (-1.7%) and Romania (-1.6%).
In the given month, compared with August 2023, prices in the energy sector fell by 7.7 percent in the euro area and by 7.0 percent in the EU. Prices of intermediate goods decreased by 0.8 percent in both areas, while prices of durable goods were up by 0.3 percent in the euro area and by 0.1 percent in the EU, all on year-on-year basis. In the same month, prices of non-durable goods moved up by 1.1 percent in the euro area and 1.0 percent in the EU, year on year. Prices of capital goods rose by 1.4 percent in the euro area and 1.7 percent in the EU, year on year.
Among member states for which data are available, the largest year-on-year increases were recorded in Romania (+2.8%), Bulgaria and Portugal (+1.9%) and Estonia (+1.7%), while Slovakia (-18.3%), Luxembourg (-6.9%) and France (-6.3%) posted the biggest declines.