Euro area sees 3.4% YoY decline in industrial prices in June 2023

Industrial producer prices in the euro area in June 2023, compared with May 2023, decreased by 0.7 per cent for intermediate goods and by 0.5 per cent in the energy sector, while prices remained stable for durable consumer goods and for non-durable consumer goods. Prices in total industry excluding energy decreased by 0.3 per cent, according to estimates from Eurostat, the statistical office of the EU.

In the EU, industrial producer prices decreased by 0.8 per cent for intermediate goods, by 0.4 per cent in the energy sector, and by 0.1 for durable consumer goods and for non-durable consumer goods. Prices in total industry excluding energy decreased by 0.4 per cent.

The largest monthly decreases in industrial producer prices were recorded in Hungary at -2.5 per cent, Bulgaria and Latvia at both -2.4 per cent, and Belgium at -2.2 per cent, while the highest increases were observed in Ireland at 4.0, Croatia at 1.3 per cent, and Sweden at 1.2 per cent.

Industrial producer prices in the euro area in June 2023, compared with June 2022, decreased by 16.5 per cent in the energy sector, by 2.7 per cent for intermediate goods, while prices increased by 5.9 per cent for durable consumer goods and by 8.9 per cent for non-durable consumer goods. Prices in total industry excluding energy increased by 2.5 per cent.

In the EU, industrial producer prices decreased by 14.0 per cent in the energy sector and by 2.7 per cent for intermediate goods, while prices increased by 5.5 per cent for durable consumer goods and by 9.0 per cent for non-durable consumer goods. Prices in total industry excluding energy increased by 2.6 per cent.

The largest annual decreases in industrial producer prices were recorded in Ireland at -17.1 per cent, Belgium at -12.4 per cent, and Bulgaria at -11.4 per cent, while the highest increases were observed in Hungary at 29.5, Slovakia at 18.2 per cent, and Slovenia at 7.4 per cent.

Fibre2Fashion News Desk (NB)