According to the report released by Eurostat, the Statistical Office of the European Communities, in July this year industrial producer prices increased by 0.4 percent in the euro area and rose by 0.3 percent in the European Union member states (EU-28), month on month. As compared to July last year, in July this year industrial producer prices rose by four percent in the euro area and by 4.7 percent in the EU-28.
In July this year compared with June, prices in the energy sector increased by 1.1 percent in the euro area and were up by 0.8 percent in the EU-28. Prices of intermediate goods, capital goods, durable and non-durable goods grew by 0.1 percent both in the euro area and in the EU-28, 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 Estonia (+2.3%), Cyprus (+1.9%), and Denmark and Latvia ( both +1.3%). The largest decreases were observed in Luxembourg and Romania (both -0.4%), as well as in Ireland and the United Kingdom (both -0.1%), on month-on-month basis.
In July this year as compared to July 2017, prices in the energy sector rose by 10.7 percent in the euro area and were up by 14.9 percent in the EU-28. Prices of intermediate goods increased by 3.2 percent in the euro area and by 3.5 percent in the EU-28, and the prices of non-durable goods remained unchanged in the euro area and was up by 0.3 percent in the EU-28, all year on year. Prices of capital goods moved up by 1.1 percent both in the euro area and in the EU-28, while the prices of durable goods increased by 1.3 percent in the euro area and 1.5 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 Belgium (+9.8%), Denmark (+9.5%), Estonia (+8.9%) and Hungary (+8.7%), while the largest year-on-year decrease was observed in Ireland (-2.8%).