Euro area industrial producer prices down 0.5 percent in June

Thursday, 02 August 2012 16:14:06 (GMT+3)   |  
       

According to a report released by Eurostat, the Statistical Office of the European Communities, in June this year industrial producer prices decreased by 0.5 percent in euro area and by 0.8 percent in the European Union member states (EU-27), month on month. In May this year, prices decreased by 0.7 percent in EU-27 and by 0.5 percent in the euro zone, as compared to the previous month.

In June 2012 compared with the previous month, prices in overall industry excluding the energy sector decreased by 0.1 percent both in the euro area and the EU-27, while prices in the energy sector fell by 1.8 percent in euro area and by 2.6 percent in EU-27. In June, prices of non-durable consumer goods and capital goods decreased by 0.1 percent in both the euro area and in the EU-27. Prices of durable consumer goods remained stable in both zones. Meanwhile, prices of intermediate goods decreased by 0.3 percent in the euro area and the EU-27, month on month.

Among the member states for which data are available, the largest month-on-month decreases were recorded in the United Kingdom (-1.9 percent) and in Greece (-1.8 percent) and in Denmark (-1.3 percent), while the only increases were recorded in Cyprus (+0.4 percent) and in Latvia (+0.3 percent). On the other hand, industrial prices in Malta and Slovenia remained stable in June compared to May.

In June 2012 as compared to June 2011, prices in overall industry excluding the energy sector increased by 0.9 percent in the euro area and by 1.2 percent in the EU-27, while prices in the energy sector gained 4.8 percent and 3.0 percent respectively. Non-durable consumer goods increased by 1.9 percent in the euro area and rose by 2.3 percent in the EU-27. Durable consumer goods rose by 1.9 percent in both zones. Capital goods rose by 1.1 percent in the euro area and by 1.4 percent in the EU-27. The prices of intermediate goods increased by 0.1 percent in the euro zone and by 0.4 percent in the EU-27, year on year.

Among member states for which data are available, the largest year-on-year increases in the overall index were observed in Cyprus (+8.8 percent), in Hungary (+6.9 percent) and in Lithuania (+4.9 percent) and the smallest in the UK (+0.1 percent) and in Austria (+0.2 percent). Meanwhile, decreases were recorded in Sweden (-0.4 percent) and in Denmark (-0.1 percent).