According to a report released by Eurostat, the Statistical Office of the European Communities, in August this year industrial producer prices increased by five percent in the euro area and by 4.9 percent in the European Union member states (EU), month on month. On year-on-year basis, in the given month, industrial producer prices were up by 43.3 percent in the euro area and by 43.0 percent in the EU.
In August, compared with July, prices in the energy sector were up by 11.8 percent in the euro area and by 11.9 percent in the EU. Prices of capital goods increased by 0.4 percent in the euro area and by 0.3 percent in the EU, while prices of durable goods advanced by 0.3 percent both in the euro area and in the EU, month on month. In the same month, prices of non-durable goods rose by 0.8 percent in the euro area and by 0.9 percent in the EU, while prices of intermediate goods moved up by 0.1 percent both in the euro area and in 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 (+28.4%), Bulgaria (+12.5%), and Hungary (+10.6%), while the largest decreases were observed in Luxembourg (-1.8%), Portugal (-0.6%) and the Czech Republic (-0.1%)
In the given month, compared with August 2021, prices in the energy sector rose by 116.8 percent in the euro area and by 115.4 percent in the EU. Prices of intermediate goods increased by 19.9 percent in the euro area and by 20.1 percent in the EU, while prices of durable goods were up by 9.8 percent in the euro area and by 10.2 percent in the EU, all on year-on-year basis. In the same month, prices of non-durable goods moved up by 14.4 percent in the euro area and by 15.6 percent in the EU, year on year. Prices of capital goods rose by 7.8 percent in the euro area and by 8.1 percent in the EU, year on year.
Among member states for which data are available, the largest year-on-year increases were recorded in Ireland (+97.4%), Romania (+70.9%) and Bulgaria (+68.3%).