The 2020 Mid-Year Economic Update_long

European Industrial Producer Prices Fall 0.9% in Euro Area

Prices also decrease by 1.2 percent in EU28.

Compared with December 2014, January industrial producer prices in Europe fell by 0.9 percent in in the euro area (EA18) and by 1.2 percent in the EU28, according to Eurostat, the statistical office of the European Union. In December prices decreased by 1 percent in in the euro area and by 1.1 percent in the EU28.

Compared with January 2014, industrial producer prices fell 3.4 percent in the euro area and by 4.1 percent in the EU28.

Compared with December, the decrease in industrial producer prices in total industry in the euro area is due to falls of 3.2 percent in the energy sector, of 0.5 percent for intermediate goods and of 0.2 percent for nondurable consumer goods, while prices rose by 0.2 percent for capital goods and 0.3 percent for durable consumer goods. Prices in total industry excluding energy decreased 0.2 percent.

In the EU28, the decrease is due to falls of 4.8 percent in the energy sector, of 0.4 percent for intermediate goods and of 0.2 percent for nondurable consumer goods, while prices rose by 0.2 percent for durable consumer goods and by 0.3 percent for capital goods. Prices in total industry excluding energy fell 0.1 percent.

Industrial producer prices fell in nearly all member states, with the largest decreases observed in the Netherlands (-3.6 percent), Lithuania (-3.1 percent), the United Kingdom (-2.9 percent) and Ireland (-2.6 percent). Industrial producer prices increased only in Latvia (+0.4 percent), Luxembourg and Malta (both +0.1 percent), while they remained stable in Romania and Slovenia.

Compared with January 2014, the decrease in industrial producer prices in total industry in the euro area is due to falls of 10.2 percent in the energy sector, of 1.6 percent for intermediate goods and of 1.1 percent for nondurable consumer goods, while prices rose 0.7 percent for capital goods and by 1 percent for durable consumer goods. Prices in total industry excluding energy fell 0.7 percent.

In the EU28, the decrease is due to falls of 14.1 percent in the energy sector, of 1.4 percent for intermediate goods and of 1.3 percent for nondurable consumer goods, while prices rose 0.7 percent for durable consumer goods and 0.8 percent for capital goods. Prices in total industry excluding energy fell 0.7 percent.

Year over year, industrial producer prices fell in all member states, except in Luxembourg (+1.4 percent). The largest decreases were observed in the Netherlands (-10.9 percent), Lithuania (-10.6 percent), the United Kingdom (-9.5 percent), Belgium (-8.4 percent), Greece (-7.7 percent) and Denmark (-7.1 percent).

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