Industrial producer prices climb in euro area & EU in November 2024

The industrial producer prices in November 2024 decreased by 1.2 per cent year-over-year (YoY) in the euro area and 1.1 per cent YoY in the EU. Prices in total industry excluding energy increased by 0.9 per cent, Eurostat said in a press release.

In the euro area, prices of intermediate goods decreased by 0.1 per cent in November 2024, compared with October 2024. Prices increased by 5.4 per cent month-over-month (MoM) for energy, remained stable for capital goods, and decreased by 0.2 per cent MoM for durable consumer goods.

In the euro area in November 2024, compared with November 2023, industrial producer prices decreased by 0.3 per cent for intermediate goods, decreased by 5.3 per cent for energy, increased by 1.3 per cent for capital goods, and increased by 0.6 per cent for durable consumer goods.

In the EU, prices remained stable for intermediate goods compared to October. Prices went high by 5.4 per cent MoM for energy, remained stable for capital goods, and remained stable for durable consumer goods. Prices in total industry excluding energy increased by 0.1 per cent MoM.

In the EU, the prices decreased by 0.2 per cent YoY for intermediate goods, down by 4.8 per cent YoY for energy, increased by 1.5 per cent YoY for capital goods, and increased by 0.5 per cent YoY for durable consumer goods.

Among member states of EU, the highest monthly increases in industrial producer prices were recorded in Bulgaria (+4.9 per cent), Ireland (+4.5 per cent) and Sweden (+4.2 per cent). The largest decreases were observed in Estonia and Cyprus (both -1.4 per cent), Slovakia (-0.5 per cent) and Luxembourg (-0.4 per cent).

Among member states of EU for which data are available, the largest annual decreases in industrial producer prices were recorded in Slovakia (-18.4 per cent), Luxembourg (-6.6 per cent) and France (-5.2 per cent). The highest increases were observed in Ireland (+5.4 per cent), Denmark and Hungary (both +3.2 per cent) and Portugal (+2.0 per cent). In October 2024, industrial producer prices grew by 0.4 per cent in both the euro area and the EU, added the release.

ALCHEMPro News Desk (SG)