Euro area's industrial producer prices drop by 12.4% YoY in Sep 2023

In August 2023, prices increased by 0.7 per cent in the euro area and by 0.5 per cent in the EU, according to estimates from Eurostat, the statistical office of the EU.

Industrial producer prices in the euro area in September 2023, compared with August 2023, increased by 2.2 per cent in the energy sector, while prices remained stable for durable consumer goods, and prices decreased by 0.2 per cent for both intermediate goods and non-durable consumer goods. Prices in total industry excluding energy decreased by 0.1 per cent.

In the EU, industrial producer prices increased by 2.1 per cent in the energy sector and by 0.1 per cent for capital goods, while prices remained stable for durable consumer goods, and prices decreased by 0.1 per cent for intermediate goods and by 0.2 per cent for non-durable consumer goods. Prices in total industry excluding energy decreased by 0.1 per cent.

The biggest monthly increases in industrial producer prices were observed in Luxembourg at 28.5 per cent, Romania at 2.6 per cent, and Bulgaria at 2.1 per cent, while the largest decreases were recorded in Finland at -0.9 per cent, Cyprus and Poland at both -0.3 per cent, and Germany at -0.2 per cent.

Industrial producer prices in the euro area in September 2023, compared with September 2022, decreased by 31.3 per cent in the energy sector and by 4.8 per cent for intermediate goods, while prices increased by 4.3 per cent for durable consumer goods and by 5.5 per cent for non-durable consumer goods. Prices in total industry excluding energy increased by 0.5 per cent.

In the EU, industrial producer prices decreased by 28.5 per cent in the energy sector and by 4.7 per cent for intermediate goods, while prices increased by 3.7 per cent for durable consumer goods, and by 5.4 per cent for non-durable consumer goods. Prices in total industry excluding energy increased by 0.4 per cent.

The largest annual decreases in industrial producer prices were recorded in Ireland at -38.9 per cent, Bulgaria at -32.0 per cent and Italy at -18.3 per cent. The highest annual increases were recorded in Luxembourg at 23.8 per cent, Hungary at 7.1 per cent, and Slovenia at 3.1 per cent.

ALCHEMPro News Desk (NB)