According to the report released by Eurostat, the Statistical Office of the European Communities, in October this year industrial producer prices increased by 0.4 percent in the euro area and by 0.3 percent in the European Union member states (EU), month on month. On year-on-year basis, in October this year industrial producer prices were down by 2.0 percent both in the euro area and in the EU.
In October, compared with September, prices in the energy sector were up by 1.4 percent in the euro area and by 0.8 percent in the EU. Prices of capital goods rose by 0.1 percent both in the euro area and in the EU, while prices of durable goods remained stable both in the euro area and in the EU, month on month. In the same month, prices of non-durable goods increased by 0.1 percent both in the euro area and in the EU, while prices of intermediate goods rose by 0.1 percent in the euro area and were up 0.2 percent in the EU, 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 Belgium (+3.7%), Ireland (+2.1%) and Croatia (+1.1%), while the largest decreases were observed in Denmark (-2.4%), Cyprus (-0.5%), and in Spain and Latvia (both -0.4%).
In October this year, compared with October 2019, prices in the energy sector declined by 7.6 percent in the euro area and by 7.7 percent in the EU. Prices of intermediate goods decreased by 1.3 percent in the euro area and by 1.1 percent in the EU, while prices of durable goods were up by 1.2 percent in the euro area and by 1.3 percent in the EU, all on year-on-year basis. In the same month, prices of non-durable goods increased by 0.1 percent in the euro area and by 0.4 percent in the EU, year on year. Prices of capital goods rose by 0.8 percent in the euro area and by 1.0 percent in the EU, year on year.
Among member states for which data are available, the largest year-on-year decreases were recorded in Cyprus (-8.0%), Lithuania (-6.9%) and Denmark (-4.8%), while the only increases were observed in Ireland (+2.8%), Malta (+1.7%) and Hungary (+1.2%).