Euro area & EU's industrial producer prices volatile in Apr 2023

06 Jun '23

3 min read

Pic: Shutterstock/zhengzaishuru

Insights

In April 2023, industrial producer prices increased by 1.0 per cent YoY in the euro area and 2.3 per cent YoY in the EU.
These prices fell by 3.2 per cent and 2.9 per cent respectively from March 2023.
Decreases were largely seen in the energy sector and intermediate goods; durable and non-durable consumer goods experienced slight increases.

In April 2023, industrial producer prices increased by 1.0 per cent year-on-year (YoY) in the euro area and by 2.3 per cent YoY in the European Union (EU). Compared with March 2023, industrial prices fell by 3.2 per cent in the euro area and by 2.9 per cent in the EU, as per the Eurostat.

In March 2023, industrial prices decreased by 1.3 per cent in both the euro area and the EU. Prices in the euro area in April 2023 decreased by 10.1 per cent month-on-month (MoM) in the energy sector and by 0.6 per cent MoM for intermediate goods, while prices increased by 0.2 per cent for durable consumer goods and by 0.3 per cent for non-durable consumer goods. Prices in total industry excluding energy decreased by 0.1 per cent, Eurostat, the statistical office of the EU, said in a press release.

In the EU, industrial producer prices decreased by 8.9 per cent in the energy sector and by 0.6 per cent for intermediate goods, while prices increased by 0.1 per cent for durable consumer goods and by 0.4 per cent for non-durable consumer goods. Prices in total industry excluding energy decreased by 0.2 per cent.

The largest monthly decreases in industrial producer prices were recorded in Belgium at -9.1 per cent, Italy at -6.5 per cent, and Ireland at -6.3 per cent, while increases were observed in Germany at 0.3 per cent, Denmark at 0.2 per cent as well as Greece, Cyprus, Malta, and Slovenia—all at 0.1 per cent.

Industrial producer prices in the euro area in April 2023, increased by 10.9 per cent for non-durable consumer goods, by 7.3 per cent for durable consumer goods, and by 1.3 per cent for intermediate goods, while prices decreased by 8.9 per cent in the energy sector on a YoY basis. Prices in total industry excluding energy increased by 5.1 per cent.

In the EU, industrial producer prices increased by 11.3 per cent for non-durable consumer goods, by 7.0 per cent for durable consumer goods, and by 1.5 per cent for intermediate goods, while prices decreased by 5.6 per cent in the energy sector. Prices in total industry excluding energy increased by 5.3 per cent.

The highest annual increases in industrial producer prices were recorded in Hungary at 41.7 per cent, Latvia at 22.7 per cent, and Slovakia at 18.2 per cent. The largest decreases were observed in Ireland at -21.4 per cent, Greece at -13.1 per cent, and Belgium at -6.8 per cent.

Fibre2Fashion News Desk (NB)

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