EU’s industrial producer prices up 27.4% YoY in Nov ’22: Eurostat

The European Union’s (EU) industrial producer prices increased by 27.4 per cent year-on-year (YoY) in November 2022, as per estimates from Eurostat, the statistical office of the EU. Euro area’s industrial producer prices rose 27.1 per cent YoY in November 2022. Compared to October 2022, both EU and euro area’s industrial producer prices fell by 0.9 per cent.

Prices decreased by 3 per cent month-on-month (MoM) in the euro area and by 2.6 per cent in the EU in October 2022.

The European Union’s (EU) industrial producer prices increased by 27.4 per cent year-on-year in November 2022, as per estimates from Eurostat, the statistical office of the EU. Euro area’s industrial producer prices rose 27.1 per cent YoY in November 2022. Compared to October 2022, both EU and euro area’s industrial producer prices fell by 0.9 per cent.

In November 2022, compared with October 2022, EU’s industrial producer prices decreased by 1.9 per cent in the energy sector and by 0.4 per cent for intermediate goods, while prices increased by 0.6 per cent for non-durable consumer goods. Prices in total industry excluding energy increased by 0.1 per cent, as per Eurostat.

Industrial producer prices in the euro area in November 2022, decreased by 2.2 per cent MoM in the energy sector and by 0.4 per cent MoM for intermediate goods, while prices increased by 0.6 per cent MoM for non-durable consumer goods. Prices in total industry excluding energy increased by 0.1 per cent MoM.

The largest monthly decreases in industrial producer prices were recorded in Bulgaria (minus 12.6 per cent), Slovakia (minus 11.6 per cent), and Greece (minus 6 per cent), while the highest increases were observed in Italy (3.3 per cent), Sweden (2.7 per cent) and Ireland (2.4 per cent).

Industrial producer prices in the euro area in November 2022, compared with November 2021, increased by 55.7 per cent in the energy sector, by 16 per cent for non-durable consumer goods, and by 15.3 per cent for intermediate goods. Prices in total industry excluding energy increased by 13.1 per cent.

In the EU, industrial producer prices increased by 56 per cent YoY in the energy sector, by 17.1 per cent YoY for non-durable consumer goods, and by 15.5 per cent YoY for intermediate goods. Prices in total industry excluding energy increased by 13.6 per cent YoY.

The highest annual increases in industrial producer prices were recorded in Hungary (63.5 per cent), Latvia (51.2 per cent) and Romania (44.8 per cent). The only decrease was observed in Ireland (minus 13 per cent).

Fibre2Fashion News Desk (DP)