EU's industrial producer prices jump 4.9% MoM in Aug 2022

In August 2022, compared with August 2021, industrial producer prices increased by 43.3 per cent in the euro area and by 43.0 per cent in the EU, according to estimates from Eurostat, the statistical office of the European Union.

Industrial producer prices in the euro area in August 2022, compared with July 2022, increased by 11.8 per cent in the energy sector, by 0.8 per cent for non-durable consumer goods, by 0.4 per cent for capital goods, by 0.3 per cent for durable consumer goods, and by 0.1 per cent for intermediate goods. Prices in total industry excluding energy increased by 0.3 per cent.

In the EU, industrial producer prices increased by 11.9 per cent in the energy sector, by 0.9 per cent for non-durable consumer goods, by 0.3 per cent for capital goods and for durable consumer goods, and by 0.1 per cent for intermediate goods. Prices in total industry excluding energy increased by 0.3 per cent.

The highest monthly increases in industrial producer prices were recorded in Ireland (+28.4 per cent), Bulgaria (+12.5 per cent), and Hungary (+10.6 per cent), while the only decreases were observed in Luxembourg (-1.8 per cent), Portugal (-0.6 per cent), and Czechia (-0.1 per cent).

Industrial producer prices in the euro area in August 2022, compared with August 2021, increased by 116.8 per cent in the energy sector, by 19.9 per cent for intermediate goods, by 14.4 per cent for non-durable consumer goods, by 9.8 per cent for durable consumer goods, and by 7.8 per cent for capital goods. Prices in total industry excluding energy increased by 14.5 per cent.

In the EU, industrial producer prices increased by 115.4 per cent in the energy sector, by 20.1 per cent for intermediate goods, by 15.6 per cent for non-durable consumer goods, by 10.2 per cent for durable consumer goods, and by 8.1 per cent for capital goods. Prices in total industry excluding energy increased by 15.1 per cent.

The industrial producer prices increased in all member states, with the highest yearly increases being registered in Ireland (+97.4 per cent), Romania (+70.9 per cent), and Bulgaria (+68.3 per cent).

The index of producer prices shows (in the national currency of the country concerned) changes in the ex-works sale prices of all products sold on the domestic market, excluding imports. Euro area and EU indices refer to overall weighted price changes. The figures are not calendar day or seasonally adjusted.

ALCHEMPro News Desk (NB)