According to a report released by Eurostat, the Statistical Office of the European Communities, in May this year industrial producer prices decreased by 0.5 percent in euro area and by 0.7 percent in the European Union member states (EU-27), month on month. In April, prices increased by 0.1 in EU-27 and remained stable in the euro zone, as compared to the previous month.
In May 2012 compared with the previous month, prices in overall industry excluding the energy sector remained stable in the euro area and the EU-27, while prices in the energy sector fell by 1.4 percent in euro area and by 2.3 percent in EU-27. In May, prices of non-durable consumer good decreased by 0.1 percent in euro area, but remained stable in the EU-27. Prices of intermediate goods and durable consumer good remained stable in the euro area, but increased by 0.1 percent in the EU-27. Meanwhile, prices of capital goods remained stable in both zones.
Among the member states for which data are available, the largest month-on-month decreases were recorded in United Kingdom (-2 percent) and in Denmark and Greece ( both -1.4 percent), while the largest increases were recorded in Cyprus (+2.1 percent), in Hungary (+0.6 percent) and Estonia and Slovakia both (+0.5 percent).
In May 2012 as compared to May 2011, prices in overall industry excluding the energy sector increased by 1.1 percent in the euro area and by 1.4 percent in the EU-27, while prices in the energy sector gained 6.4 percent and 5.6 percent respectively. Non-durable consumer goods increased by 1.9 percent in euro area and rose by 2.3 percent in the EU-27. Durable consumer goods rose by 1.9 percent in the euro zone and 2 percent in EU-27. Capital goods rose by 1.2 percent in the euro area and by 1.3 percent in EU-27. The prices of intermediate goods increased by 0.5 percent in the euro zone and by 0.7 percent in the EU-27.
Among member states for which data are available, the largest year-on-year increases in the overall index were observed in Cyprus (+9.1 percent), in Hungary (+7.4 percent) and in Lithuania (+ 5.6 percent) and the smallest in Denmark and Austria (both +0.4 percent) and in Malta (+0.7 percent) .The only decrease was recorded in Sweden (-0.2 percent) in May.