According to a report released by Eurostat, the Statistical Office of the European Communities, in August this year industrial producer prices increased by 0.9 percent in the euro area and by one percent in the European Union member states (EU-27), month on month. In July this year, prices had increased by 0.3 percent compared to the previous month. In August this year, industrial producer prices gained 2.7 percent in both zones compared to August 2011.
In August 2012 compared with the previous month, prices in overall industry excluding the energy sector increased by 0.3 in both zones, while the prices in the energy sector rose by 2.4 percent in euro area and by 3.2 percent in EU-27. In August, prices of durable consumer goods increased by 0.1 percent and prices of non-durable consumer goods rose by 0.3 percent both in the euro area and in the EU-27. Prices of capital goods once again remained stable in both zones compared to the previous month. Meanwhile, prices of intermediate goods increased by 0.5 percent in the euro area and by 0.4 percent in the EU-27, month on month.
Among the member states for which data are available, the largest month-on-month increases were recorded in Denmark (+2.9 percent), in the UK (+1.8 percent) and in Finland (+1.7 percent) while the smallest increases were recorded in Slovenia(+0.1 percent) and in Latvia (+0.3 percent). In August, the industrial producer prices remained stable in Belgium, Hungary and Malta.
In August 2012 as compared to August 2011, prices in overall industry excluding the energy sector increased by one percent in the euro area and by 1.1 percent in the EU-27, while prices in the energy sector gained 7.9 percent and 7.2 percent respectively. Prices of non-durable consumer goods increased by 2.1 percent in the euro area and rose by 2.4 percent in the EU-27. Durable consumer goods rose by 1.6 in both zones, while capital goods rose by 0.9 percent in the euro area and by one percent in the EU-27. The prices of intermediate goods increased by 0.3 percent both in the euro zone and in the EU-27, year on year.
Among member states for which data are available, the largest year-on-year increases in the overall index were observed in Bulgaria (+7.1 percent), in Greece (+6.8 percent) and in Cyprus (+6.7 percent) and the smallest in the Malta and Slovenia (both with +0.8 percent) and in Austria (+1.1 percent). Meanwhile in August, the only decrease was recorded in Sweden (-0.5 percent).