According to the report released by Eurostat, the Statistical Office of the European Communities, in July this year industrial producer prices decreased by 0.1 percent in the euro area and by 0.2 percent in the European Union member states (EU-28), month on month. As compared to July 2014, in July of the current year industrial producer prices fell by 2.1 percent in the euro area and declined by 2.7 percent in the EU-28.
In July compared with June, prices in the energy sector decreased by 0.5 percent in the euro area and were down by one percent in the EU-28. Prices of intermediate goods remained stable both in the euro area and in the EU-28, month on month. Prices of capital goods increased by 0.1 percent in the euro area and were down by 0.1 percent in the EU-28, while the prices of durable goods rose by 0.1 percent in both the euro area and in the EU-28, all month on month. Prices of non-durable goods increased by 0.1 percent in the euro area and remained stable in the EU-28, month on month.
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 Denmark (-2.6%), and Estonia and Norway (both 1.5%), while the largest increases in prices were observed in Ireland (+1.3%) and Cyprus (+0.6%).
In July this year as compared to July 2014, prices in the energy sector fell by 6.5 percent in the euro area and by 9.9 percent in the EU-28. Prices of intermediate goods decreased by 0.7 percent in both the euro area and in the EU-28, year on year. Prices of capital goods rose by 0.7 percent in the euro area and by 0.8 percent in the EU-28, while the prices of non-durable goods decreased by one percent in the euro area and were down by 1.1 percent in the EU-28, all year on year. Meanwhile, the prices of durable consumer goods rose by 0.9 percent in the euro area and by one percent in the EU-28, year on year.
Among member states for which data are available, the prices fell on year-on-year basis in nearly all member states except Luxembourg (+0.5%), while the largest year-on-year decreases were seen in Denmark (-9%), Lithuania (-8.3%), the UK (-7.0%) and Cyprus (-6.7%).