December 9, 2022
According to the statistical office of the European Union (Eurostat), industrial producer prices fell in October 2022, by 2.9% in the euro area (+30.8% from October 2021) and by 2.5% in the EU (+31.2% from October 2021) when compared to September 2022, where prices grew by 1.6% in the euro area and 1.4% in the EU.
Monthly comparison by main industrial grouping and by Member State
Increases in industrial producer prices in the euro area in October 2022, relative to September 2022, were recorded in non-durable consumer goods (+1.1%), durable consumer goods (+0.5%), capital goods (+0.3%) and intermediate goods (+0.2%). Prices for the total industry excluding energy increased by 0.5% while prices in the energy sector decreased by 6.9%.
Industrial producer prices in the EU increased in non-durable consumer goods (+1.2%), durable consumer goods (+0.5%), capital goods (+0.3%) and intermediate goods (+0.3%). Prices in total industry excluding energy increased by 0.5%, while prices in the energy sector decreased by 6.6%.
The Member states with the largest monthly increases in industrial producer prices were Greece (+9.6%), Hungary (+6.2%) and Belgium (+2.8%). Decreases were recorded in Ireland (-32.5%), Bulgaria (-8.8%) and Denmark (-5.5%).
Annual comparison by main industrial grouping and by Member State
Increases in industrial producer prices in the euro area in October 2022, relative to October 2021, were recorded in the energy sector (+65.8%), intermediate products (+17.4%), non-durable consumer goods (+16.0%), durable consumer goods (+9.8%) and capital goods (+7.5%). Price in total industry excluding energy increased by 14.0%.
Industrial producer prices in the EU increased in the energy sector (+67.0%), the intermediate good sector (+17.6%), the non-durable consumer goods sector (+17.1%), the durable consumer goods sector (+10.1%) and the capital goods sector (+7.7%). Prices in total industry excluding energy increased by 14.5%.
The largest annual increases in all Member states were Hungary (+68.0%), Slovakia (+59.3%) and Latvia (+57.9%). The only decrease was observed in Ireland (-17.2%).
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