According to a report released by Eurostat, the Statistical Office of the European Communities, in January this year industrial producer prices increased by 1.4 percent both in the euro area and the European Union member states (EU), month on month. On year-on-year basis, in January this year industrial producer prices were stable in the euro area and up by 0.2 percent in the EU.
In January, compared with December, prices in the energy sector were up by 3.5 percent in the euro area and by 3.6 percent in the EU. Prices of capital goods increased by 0.4 percent both in the euro area and the EU, while prices of durable goods increased by 0.4 percent both in the euro area and 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 1.2 percent both in the euro area and the EU, all on month-on-month basis.
In the given month, the industrial producer prices increased in all member states for which data are available, the largest month-on-month increases in industrial producer prices were recorded in Ireland (+10.0%), Spain (+3.4%), and Denmark (+3.3%).
In January this year, compared with January 2020, prices in the energy sector declined by 1.6 in the euro area and by 1.4 percent in the EU. Prices of intermediate goods increased by 0.9 percent in the euro area and were up by 1.1 percent in the EU, while prices of durable goods were up by 1.2 percent in the euro area and by 1.4 percent in the EU, all on year-on-year basis. In the same month, prices of non-durable goods decreased by 0.5 percent both in the euro area and 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 Lithuania (-4.8%), Cyprus (-4.6%) and Greece (-3.8%), while the largest increases were observed in Ireland (+19.6%), Estonia (+5.1%) and Denmark (+2.9%).