According to the report released by Eurostat, the Statistical Office of the European Communities, in August this year industrial producer prices rose by 0.3 percent both in the euro area and in the European Union member states (EU-28), month on month. As compared to August last year, in August this year industrial producer prices increased by 4.2 percent in the euro area and by 4.7 percent in the EU-28.
In August this year compared with July, prices in the energy sector were up by 0.9 percent in the euro area and rose by one percent in the EU-28. Prices of intermediate goods grew by 0.1 percent both in the euro area and in the EU-28, month on month. Prices of non-durable goods increased by 0.1 percent in the euro area while remaining unchanged in the EU-28, on month-on-month basis. Price of durable goods rose by 0.2 percent in the euro area and by 0.1 percent in the EU-28, both 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 Latvia (+2.1%), Romania (+1.0%), Denmark (+0.8%) and Belgium and Hungary (both +0.6%).
In August this year as compared to August 2017, prices in the energy sector rose by 12 percent in the euro area and were up by 15 percent in the EU-28. Prices of intermediate goods increased by 3.2 percent in the euro area and by 3.4 percent in the EU-28, and the prices of non-durable goods were up by 0.2 percent in the euro area and remained unchanged in the EU-28, while the prices of durable goods increased by 1.3 percent in the euro area and by 1.6 percent in the EU-28, all on year-on-year basis.
Among member states for which data are available, the largest year-on-year increases were recorded in Denmark (+10.3%), Belgium (+9.5%), Estonia (+9.2%) and Hungary (+8.4%), while the largest year-on-year decrease was observed in Ireland (-2.8%).