The 2020 Mid-Year Economic Update_long

European Industrial Producer Prices Fall 1% in Euro Area, EU28

Declines driven by price decreases in the energy sector.

Compared with November 2014, December industrial producer prices in Europe fell 1 percent in both the euro area (EA18) and the EU28, according to Eurostat, the statistical office of the European Union. In November prices decreased by 0.3 percent in in the euro area and by 0.4 percent in the EU28.

Compared with December 2013, industrial producer prices fell 2.7 percent in the euro area and by 3.1 percent in the EU28.

The average industrial producer prices for the year 2014, compared with 2013, decreased 1.5 percent in both the euro area and the EU28.

Compared with November, the decrease in industrial producer prices in total industry in the euro area is due to falls of 3.1 percent in the energy sector, of 0.5 percent for intermediate goods and of 0.1 percent for nondurable consumer goods, while prices remained stable for capital goods and increased 0.1 percent for durable consumer goods. Prices in total industry excluding energy decreased 0.2 percent.

In the EU28, the sequential decrease is due to falls of 3.7 percent in the energy sector, of 0.4 percent for intermediate goods and of 0.1 percent for nondurable consumer goods, while prices rose by 0.1 percent for both capital goods and durable consumer goods. Prices in total industry excluding energy fell 0.2 percent.

Industrial producer prices fell in nearly all member states, with the largest decreases observed in Greece (-3.3 percent), the Netherlands (-3.2 percent) and Belgium (-2.7 percent). Industrial producer prices increased only in Estonia and Sweden (both 0.3 percent), Cyprus and Slovenia (both 0.1 percent), while they remained stable in Malta.

Compared with December 2013, the decrease in industrial producer prices in total industry in the euro area is due to falls of 8.3 percent in the energy sector and of 1 percent for both intermediate goods and nondurable consumer goods, while prices rose 0.6 percent for capital goods and 1.3 percent for durable consumer goods. Prices in total industry excluding energy fell 0.5 percent.

In the EU28, the 3.1 percent decrease is due to falls of 10.6 percent in the energy sector, of 1.1 percent for nondurable consumer goods and of 0.8 percent for intermediate goods, while prices rose 0.7 percent for capital goods and 1.0 percent for durable consumer goods. Prices in total industry excluding energy fell 0.4 percent.

Year over year, industrial producer prices fell in all member states, except Latvia (+0.5 percent). The largest decreases were observed in Lithuania (-8.3 percent), the Netherlands (-7.8 percent), Belgium (-6.8 percent), the United Kingdom (-6.0 percent), Denmark (-5.4 percent) and Greece (-5.3 percent).

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