According to a report released by Eurostat, the Statistical Office of the European Communities, in July this year industrial producer prices declined by 0.5 percent in the euro area and 0.6 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 7.6 percent in the euro area and by 6.6 percent in the EU.
In July, compared with June, prices in the energy sector were down by 0.9 percent in the euro area and by 1.0 percent in the EU. Prices of capital goods increased by 0.2 percent in both areas, while prices of durable goods fell by 0.2 percent in the euro area and remained stable in the EU, month on month. In the same month, prices of non-durable goods increased by 0.1 in the euro area and decreased by 0.1 percent in the EU, while prices of intermediate goods decreased by 1.2 percent in both the euro area and the EU, 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 Latvia (+2.2%), Slovakia (+1.7%) and Croatia (+1.3%), while the largest decreases were observed in Ireland (-8.1%), the Netherlands (-2.6%) and Sweden (-1.8%).
In the given month, compared with July 2022, prices in the energy sector fell by 24.2 percent in the euro area and by 21.5 percent in the EU. Prices of intermediate goods decreased by 4.0 percent in the euro area and 3.9 percent in the EU, while prices of durable goods were up by 5.1 percent in the euro area and by 4.6 percent in the EU, all on year-on-year basis. In the same month, prices of non-durable goods moved up by 7.6 percent in both the euro area and the EU, year on year. Prices of capital goods rose by 4.7 percent in the euro area and 4.5 percent in the EU, year on year.
Among member states for which data are available, the largest year-on-year increases were recorded in Hungary (+18.8%), Slovakia (+17.8%) and Slovenia (+6.8%).