According to a report released by Eurostat, the Statistical Office of the European Communities, in May this year industrial producer prices went down by 0.2 percent in the euro area and 0.3 percent in the European Union member states (EU), month on month. On year-on-year basis, in the given month, industrial producer prices were down by 4.2 percent in the euro area and by 4.0 percent in the EU.
In May, compared with April, prices in the energy sector were down by 1.1 percent in the euro area and by 1.3 percent in the EU. Prices of capital goods increased by 0.1 percent in both areas, while prices of durable goods went down by 0.1 percent in the euro area and by 0.2 in the EU, month on month. In the same month, prices of non-durable goods increased by 0.1 percent in in the euro area and 0.2 percent in the EU countries, while prices of intermediate goods rose by 0.1 percent in both areas, all on month-on-month basis.
Among member states for which data are available, the largest month-on-month increases in industrial producer prices were recorded in Ireland (+7.7%), Bulgaria (+4.5%) and Estonia (+2.1%) while the largest decreases were observed in Croatia (-4.1%), Greece (-2.9%) and Sweden (-1.8%).
In the given month, compared with May 2023, prices in the energy sector fell by 11.4 percent in the euro area and by 10.3 percent in the EU. Prices of intermediate goods decreased by 2.9 percent in the euro area and 3.0 percent in the EU, while prices of durable goods were up by 0.5 percent in the euro area and by 0.1 percent in the EU, all on year-on-year basis. In the same month, prices of non-durable goods moved up by 1.1 percent in the euro area and 0.9 percent in the EU, year on year. Prices of capital goods rose by 1.6 percent in the euro area and 1.7 percent in the EU, year on year.
Among member states for which data are available, the largest year-on-year increases were recorded in Luxembourg (+17.7%), Sweden (+1.3%) and the Czech Republic (+1.0%), while Slovakia (-20.7%), Poland (-6.8%) and France and Latvia ( both -6.7%) posted the biggest declines.