EU's industrial producer prices decline 0.6% MoM in Feb 2023: Eurostat

In February 2023, compared with February 2022, industrial producer prices increased by 14.5 per cent in the EU and by 13.2 per cent in the euro area.

EU’s industrial producer prices in February 2023, compared with January 2023, decreased by 2.1 per cent in the energy sector and by 0.1 per cent for intermediate goods, while prices increased by 0.6 per cent for non-durable consumer goods. Prices in total industry excluding energy increased by 0.2 per cent, as per Eurostat.

Industrial producer prices in the euro area in February 2023, compared with January 2023, decreased by 1.6 per cent in the energy sector and by 0.1 per cent for intermediate goods, while prices increased by 0.6 per cent for non-durable consumer goods. Prices in total industry excluding energy increased by 0.2 per cent.

The largest monthly decreases in industrial producer prices were recorded in Bulgaria (minus 7.9 per cent), Greece (minus 3.3 per cent) and Belgium (minus 3.2 per cent), while the highest increases were observed in Slovakia (11.5 per cent), Slovenia (2.7 per cent) and Portugal (2.5 per cent).

Industrial producer prices in the EU in February 2023, compared with February 2022, increased by 20.1 per cent in the energy sector, by 16.0 per cent for non-durable consumer goods and by 9.7 per cent for intermediate goods. Prices in total industry excluding energy increased by 10.6 per cent.

In the euro area, industrial producer prices increased by 17.4 per cent in the energy sector, by 15.2 per cent for non-durable consumer goods, and by 9.3 per cent for intermediate goods. Prices in total industry excluding energy increased by 10.2 per cent.

The industrial producer prices increased in all member states, with the highest yearly increases being registered in Hungary (56.1 per cent), Latvia (37.4 per cent), and Slovakia (33.8 per cent).

ALCHEMPro News Desk (DP)