European Industrial Producer Prices Down 1% in January

Prices also decreased by 1 percent in the EU28.

In January 2016, compared with December 2015, industrial producer prices fell by 1percent in both the euro area (EA19) and the EU28, according to estimates from Eurostat, the statistical office of the European Union. In December 2015 prices decreased by 0.8percent in both zones. In January 2016, compared with January 2015, industrial producer prices fell by 2.9percent in both the euro area and the EU28.

The 1 percent decrease in industrial producer prices in total industry in the euro area in January 2016, compared with December 2015, is due to price falls of 3.2 percent in the energy sector and of 0.3 percent for intermediate goods, while prices remained stable for non-durable consumer goods and increased by 0.1 percent for capital goods and by 0.4 percent for durable consumer goods. Prices in total industry excluding energy remained stable.

In the EU28, the 1 percent decrease is due to price falls of 3.4 percent in the energy sector and of 0.3 percent for intermediate goods, while prices remained stable for non-durable consumer goods and increased by 0.1 percent for capital goods and by 0.4 percent for durable consumer goods. Prices in total industry excluding energy remained stable.

The largest decreases in industrial producer prices were observed in the Netherlands (-3.1 percent), Greece (-2.9 percent), Belgium (-2.7 percent), Spain (-2.5 percent) and Hungary (-2.2 percent), and the only increases in Estonia (+4.5 percent), Denmark (+1.7 percent), Lithuania (+0.6 percent), Luxembourg (+0.5 percent) and Malta (+0.1 percent).

The 2.9 percent decrease in industrial producer prices in total industry in the euro area in January 2016, compared with January 2015, is due to price falls of 8.6 percent in the energy sector, of 1.6 percent for intermediate goods and of 0.2 percent for non-durable consumer goods, while prices rose by 0.4 percent for capital goods and by 0.9 percent for durable consumer goods. Prices in total industry excluding energy fell by 0.6 percent.

In the EU28, the 2.9 percent price decrease is due to falls of 9.6 percent in the energy sector, of 1.6 percent for intermediate goods and of 0.2 percent for non-durable consumer goods, while prices rose by 0.6 percent for capital goods and by 1 percent for durable consumer goods. Prices in total industry excluding energy fell by 0.5 percent.

Industrial producer prices fell in all member states except Estonia, where prices remained stable. The largest decreases were observed in the Netherlands (-6.8 percent), Cyprus (-6.6 percent), Greece (-6 .3 percent), Slovakia (-5.3 percent), Lithuania (-4.7 percent) and Spain (-4.2 percent).

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