Industrial Producer Prices in December 2017 down by -0.2% and up by 0.4% on monthly and annual basis

Industrial producer prices dropped by -0.2% in December 2017 compared to November 2017, but increased by 0.4% compared to December 2016, according to estimates from Eurostat, the statistical office of the European Union, published today. In November prices decreased also by -0.7 in monthly, but increased by 0.7% in annual basis.

Meanwhile In December 2017, compared with November 2017, industrial producer prices rose by 0.2% in the euro area (EA19) and by 0.1% in the EU28. In November 2017, prices increased by 0.6% in the euro area and by 0.7% in the EU28. In December 2017, compared with December 2016, industrial producer prices rose by 2.2% in the euro area and by 2.4% in the EU28. The average industrial producer prices for the year 2017, compared with 2016, increased by 3.1% in the euro area and by 3.4% in the EU28.

On a monthly basis, the 0.2% increase in industrial producer prices in total industry in the euro area in December 2017, compared with November 2017, is due to rises of 0.2% for intermediate goods and of 0.1% in the energy sector, for capital goods and for durable consumer goods, while prices remained stable for non-durable consumer goods. Prices in total industry excluding energy rose by 0.1%.

In the EU28, the 0.1% increase is due to rises of 0.2% for both intermediate goods and durable consumer goods and of 0.1% in the energy sector, while prices remained stable for both capital goods and non-durable consumer goods. Prices in total industry excluding energy also rose by 0.1%.

The highest increases in industrial producer prices were observed in Sweden (+1.2%), Ireland (+0.7%), Slovakia (+0.6%) and Finland (+0.5%), and the largest decreases in Denmark (-1.0%), Lithuania (-0.6%), as well as Estonia and Romania (both -0.3%).

On an annual basis, the 2.2% increase in industrial producer prices in total industry in the euro area in December 2017, compared with December 2016, is due to rises of 3.0% for intermediate goods, of 2.9% in the energy sector, of 1.5% for nondurable consumer goods, of 1.0% for capital goods and of 0.7% for durable consumer goods. Prices in total industry excluding energy rose by 1.9%.

In the EU28, the 2.4% price increase is due to rises of 3.2% in the energy sector, of 3.1% for intermediate goods, of 1.8% for non-durable consumer goods, of 1.1% for durable consumer goods and of 0.9% for capital goods. Prices in total industry excluding energy rose by 2.1%. Industrial producer prices rose in all Member States.

The largest increases were recorded in Belgium (+5.3%), Bulgaria (+5.1%), the United Kingdom (+4.2%), Lithuania (+3.8%) and Ireland (+3.6%).

Source: Cyprus News Agency