Industrial producer prices up by 0.4% in both euro area and EU28, down by -0.5 in Cyprus

In October 2017, compared with September 2017, industrial producer prices rose by 0.4% in both the euro area (EA19) and the EU28, but dropped in Cyprus by -0.5%, according to estimates from Eurostat, the statistical office of the European Union. In September 2017, prices increased by 0.5% in both zones. In October 2017, compared with October 2016, industrial producer prices rose by 2.5% in the euro area, by 2.6% in the EU28 and by 0.8% in Cyprus.

The 0.4% increase in industrial producer prices in total industry in the euro area in October 2017, compared with September 2017, is due to rises of 1.3% in the energy sector and of 0.3% for intermediate goods, while prices remained stable for both capital and durable consumer goods and fell by 0.2% for non-durable consumer goods. Prices in total industry excluding energy rose by 0.2%. In the EU28, the 0.4% increase is due to rises of 1.2% in the energy sector and of 0.3% for intermediate goods, while prices remained stable for both capital and durable consumer goods and fell by 0.1% for non-durable consumer goods. Prices in total industry excluding energy rose by 0.1%. The highest increases in industrial producer prices were observed in Belgium (+2.4%), Ireland (+1.5%), Romania (+1.0%) and Spain (+0.8%), while decreases were observed in Denmark (-1.5%), Cyprus and Latvia (both -0.5%) and Estonia (-0.4%).

The 2.5% increase in industrial producer prices in total industry in the euro area in October 2017, compared with October 2016, is due to rises of 3.5% for intermediate goods, of 3.1% in the energy sector, of 1.9% for non-durable consumer goods, of 0.9% for capital goods and of 0.6% for durable consumer goods. Prices in total industry excluding energy rose by 2.3%. In the EU28, the 2.6% price increase is due to rises of 3.6% for intermediate goods, of 3.5% in the energy sector, of 2.3% for non-durable consumer goods and of 0.9% for both capital and durable consumer goods. Prices in total industry excluding energy rose by 2.5%. Industrial producer prices rose in all Member States, with the largest increases recorded in Belgium (+6.9%), Bulgaria (+5.5%), Poland (+4.5%), Hungary (+4.4%) and Ireland (+4.3%).

Source: Cyprus News Agency