In August 2022, industrial producer prices rose by 5% in the euro area and by 4.9% in the EU, compared with July 2022, and by 43.3% in the euro area and by 43.0% in the EU compared with August 2021, according to estimates from Eurostat, the statistical office of the European Union.
In Cyprus, industrial producer prices in August rose by 0.3% compared to July and by 31.6% compared to last year.
In July 2022, prices had increased by 4% in the euro area, by 3.7% in the EU and by 5.4% in Cyprus compared to June 2022.
By industrial group, Industrial producer prices increased in the euro area in August 2022, compared with July 2022, by 11.8% in the energy sector, by 0.8% for non-durable consumer goods, by 0.4% for capital goods, by 0.3% for durable consumer goods and by 0.1% for intermediate goods. Prices in total industry excluding energy increased by 0.3%.
In the EU, industrial producer prices increased by 11.9% in the energy sector, by 0.9% for non-durable consumer goods, by 0.3% for capital goods and for durable consumer goods and by 0.1% for intermediate goods. Prices in total industry excluding energy increased by 0.3%.
The highest monthly increases in industrial producer prices were recorded in Ireland (+28.4%), Bulgaria (+12.5%) and Hungary (+10.6%), while the only decreases were observed in Luxembourg (-1.8%), Portugal (-0.6%) and Czechia (-0.1%).
On an annual basis, that is compared with August 2021, industrial producer prices in the euro area increased by 116.8% in the energy sector, by 19.9% for intermediate goods, by 14.4% for non-durable consumer goods, by 9.8% for durable consumer goods and by 7.8% for capital goods. Prices in total industry excluding energy increased by 14.5%.
In the EU, industrial producer prices increased by 115.4% in the energy sector, by 20.1% for intermediate goods, by 15.6% for non-durable consumer goods, by 10.2% for durable consumer goods and by 8.1% for capital goods. Prices in total industry excluding energy increased by 15.1%.
The industrial producer prices increased in all Member States, with the highest yearly increases being registered in Ireland (+97.4%), Romania (+70.9%) and Bulgaria (+68.3%).
Source: Cyprus News Agency