EU's industrial producer prices over 25% YoY in Dec 2022

06 Feb '23

3 min read

Pic: Shutterstock/ Stanislav Dolhov

In December 2022, industrial producer prices increased by 24.6 per cent in the euro area and by 25.2 per cent in the European Union (EU) on a year-on-year (YoY) basis, as per Eurostat. In December 2022, industrial producer prices rose by 1.1 per cent in the euro area and by 1.2 per cent in the EU on a month-on-month (MoM) basis. In November 2022, prices decreased by 1.0 per cent in the euro area and by 0.9 per cent in the EU.

The annual average industrial producer prices for the year 2022, compared with 2021, increased by 34.4 per cent in the euro area and by 34.3 per cent in the EU. Industrial producer prices in the euro area in December 2022, compared with November 2022, increased by 2.5 per cent in the energy sector, by 0.5 per cent for non-durable consumer goods, and by 0.4 per cent for durable consumer goods, while prices decreased by 0.5 per cent for intermediate goods. Prices in total industry excluding energy decreased by 0.1 per cent, according to a press release by Eurostat, the statistical office of the EU.

In the EU, industrial producer prices increased by 2.9 per cent in the energy sector, by 0.5 per cent for non-durable consumer goods, and by 0.4 per cent for durable consumer goods, while prices decreased by 0.5 per cent for intermediate goods. Prices in total industry excluding energy decreased by 0.1 per cent. The highest monthly increases in industrial producer prices were observed in Ireland (+43.2 per cent), Bulgaria (+6.0 per cent), and Sweden (+4.4 per cent), while the largest decreases were recorded in Portugal (-3.2 per cent), Croatia (-2.6 per cent), and Slovakia (-2.5 per cent).

Industrial producer prices in the euro area in December 2022, compared with December 2021, increased by 48.6 per cent in the energy sector, by 15.6 per cent for non-durable consumer goods, by 13.8 per cent for intermediate goods, and by 9.7 per cent for durable consumer goods. Prices in total industry excluding energy increased by 12.3 per cent.

In the EU, industrial producer prices increased by 49.6 per cent in the energy sector, by 16.7 per cent for non-durable consumer goods, by 14.0 per cent for intermediate goods, and by 9.9 per cent for durable consumer goods. Prices in total industry excluding energy increased by 12.8 per cent. The industrial producer prices increased in all member states, with the highest yearly increases being registered in Hungary (+62.7 per cent), Latvia (+49.4 per cent), and Romania (+41.9 per cent).

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