According to the report released by Eurostat, the Statistical Office of the European Communities, in July this year industrial producer prices increased by 0.1 percent both in the euro area and in the European Union member states (EU-28), month on month. As compared to July 2015, in July this year industrial producer prices fell by 2.8 percent in the euro area and by 2.5 percent in the EU-28.
In July of the current year compared with June, prices in the energy sector decreased by 0.4 percent in the euro area and were down by 0.3 percent in the EU-28. Prices of intermediate goods rose by 0.2 percent in both the euro area and the EU-28, month on month. Prices of non-durable goods grew by 0.3 percent in both regions on month-on-month basis. Prices of capital goods rose by 0.1 percent in the euro area and were up by 0.2 percent in the EU-28 and prices of durable goods grew by 0.1 percent 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 increases in industrial producer prices were recorded in Cyprus (+2.2%), the United Kingdom (+0.6%), Luxembourg (+0.4%) and Belgium (+0.3%). The largest decreases were observed in Estonia (-2.3%), Denmark (-1.3%), the Netherlands (-1.1%) and Greece (-1.0%), on month-on-month basis.
In July this year as compared to July last year, prices in the energy sector fell by 8.4 percent in the euro area and were down by 7.7 percent in the EU-28. Prices of intermediate goods decreased by 2.3 percent in the euro area and declined by 1.9 percent in the EU-28 and the prices of non-durable goods decreased by 0.3 percent in the euro area and by 0.2 percent in the EU-28, all year on year. Prices of capital goods rose by 0.5 percent in the euro area and by 0.8 percent in the EU-28, while the prices of durable goods increased by 0.8 percent in the euro area and by 0.9 percent in the EU-28, 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 Greece (-7.0%), the Netherlands (-6.4%), Croatia (-5.0%) and Slovakia (-4.7%). The only year-on-year increases were observed in Malta (+0.9%), Denmark (+0.4%) and Sweden (+0.1%).