According to the report released by Eurostat, the Statistical Office of the European Communities, in August this year industrial producer prices decreased by 0.2 percent both in the euro area and in the European Union member states (EU-28), month on month. As compared to August 2015, in August this year industrial producer prices fell by 2.1 percent in the euro area and by 1.6 percent in the EU-28.
In August of the current year compared with July, prices in the energy sector decreased by 0.8 percent both in the euro area and in the EU-28. Prices of intermediate goods dropped by 0.1 percent in both the euro area and the EU-28, month on month. Prices of non-durable goods grew by 0.1 percent in both regions on month-on-month basis. Prices of capital goods remained stable in both regions and prices of durable goods showed zero growth in both regions, all on month-on-month basis.
In the given month, among the member states for which data are available, the largest month-on-month decreases in industrial producer prices were recorded in the Netherlands (-1.9%), Croatia (-1.4%), Ireland (-1.1%) and Hungary (-1.0%). The largest increases were observed in Latvia (+0.9%), Sweden (+0.4%), Cyprus (+0.2%) and Finland (+0.1%), on month-on-month basis.
In August this year as compared to August last year, prices in the energy sector fell by six percent in the euro area and were down by 4.9 percent in the EU-28. Prices of intermediate goods decreased by 1.9 percent in the euro area and declined by 1.6 percent in the EU-28 and the prices of non-durable goods decreased by 0.1 percent in the euro area while the prices of non-durable goods remained stable in the EU-28, all year on year. Prices of capital goods rose by 0.5 percent in the euro area and by 0.9 percent in the EU-28, while the prices of durable goods increased by 0.9 percent in both regions, all on year-on-year.
Among member states for which data are available, prices fell in nearly all member states on year-on-year basis. The largest year-on-year decreases were seen in Luxembourg (-7.1%), the Netherlands (-6.6%), Croatia (-5.0%) and Slovakia (-4.9%). The only year-on-year increases were observed in the United Kingdom (+1.4%), Malta (+1.0%), Sweden (+0.7%) and Poland (+0.1%).