Industrial Producer Prices, up in Cyprus by 0.8 and 5.4 on monthly and annual basis

In May 2017, compared with April 2017, industrial producer prices increased in Cyprus by 0.8%, while they fell by 0.4% in both the euro area (EA19) and the EU28, according to estimates from Eurostat, the statistical office of the European Union.

In April 2017 prices remained stable in the euro area and rose by 0.1% in the EU28, and also rose by 0.2% in Cyprus.

In May 2017, compared, with May 2016, industrial producer prices rose by 3.3% in the euro area, by 3.7% in the, EU28 and by 5.4% in Cyprus.

On a monthly basis, the 0.4% decrease in industrial producer prices in total industry in the euro area in May 2017, compared with April 2017, is due to price falls of 1.3% in the energy sector and of 0.1% for intermediate goods, while prices remained stable for durable consumer goods and increased by 0.1% for capital goods and by 0.2% for non-durable consumer goods. Prices in total industry excluding energy remained stable.

In the EU28, the 0.4% decrease is due to price falls of 1.8% in the energy sector and of 0.1% for both intermediate goods and durable consumer goods, while prices remained stable for capital goods and increased by 0.3% for nondurable consumer goods. Prices in total industry excluding energy rose by 0.1%.

The largest decreases in industrial producer prices were observed in Greece (-1.9%), Lithuania (-1.5%), the Netherlands (-1.0%), Belgium and the United Kingdom (both -0.8%), and the highest increases in Ireland (+1.1%), Cyprus (+0.8%) and Slovenia (+0.4%).

On an annual basis the 3.3% increase in industrial producer prices in total industry in the euro area in May 2017, compared with May 2016, is due to rises of 5.7% in the energy sector, of 3.5% for intermediate goods, of 2.5% for non-durable consumer goods, of 0.9% for capital goods and of 0.7% for durable consumer goods. Prices in total industry excluding energy rose by 2.4%.

In the EU28, the 3.7% total price increase is due to rises of 6.9% in the energy sector, of 3.5% for intermediate goods, of 2.8% for non-durable consumer goods, of 1.2% for capital goods and of 0.9% for durable consumer goods. Prices in total industry excluding energy rose by 2.7%. The largest increases in industrial producer prices were recorded in Belgium (+9.0%), the United Kingdom (+6.1%), the Netherlands (+5.5%), Cyprus (+5.4%) and Spain (+5.2%), while a price decrease was observed in Luxembourg (-3.0%).

Source: Cyprus News Agency