The 2020 Mid-Year Economic Update_long

Europe Industrial Producer Prices Fall in October

Compared with September, decreases were recorded in all but four member states.

Industrial producer prices fell by 0.5 percent in the euro area (EA17) and by 0.6 percent in the EU28 in October, compared with September, according to estimates from Eurostat. In September, prices rose by 0.2 percent and 0.1 percent, respectively.

Year-over-year industrial producer prices decreased by 1.4 percent in the euro area and by 1.1 percent in the EU28.

Compared with September 2013, October prices in total industry excluding the energy sector fell by 0.1 percent in both the euro area and the EU28. Prices in the energy sector decreased by 1.4 percent and 1.6 percent, respectively.

Nondurable consumer goods dropped by 0.3 percent in the euro area and by 0.2 percent in the EU28. In both zones, intermediate goods declined by 0.2 percent, while capital goods and durable consumer goods remained stable.

Decreases were recorded in almost all member states for which data are available, the largest being registered in Croatia, Italy and Hungary (all -1.3 percent) and Denmark (-1.1 percent). Increases were observed in Estonia and Cyprus (both +0.2 percent) and Sweden (+0.1 percent), while prices in Malta remained stable.

Compared with October 2012, prices in total industry excluding the energy sector fell by 0.3 percent in the euro area and by 0.1 percent in the EU28. Prices in the energy sector decreased by 3.6 percent and 3.3 percent respectively.

Intermediate goods dropped by 1.8 percent in the euro area and by 1.5 percent in the EU28. Durable consumer goods increased by 0.5 percent and 0.3 percent respectively. Capital goods gained 0.5 percent in the euro area and 0.6 percent in the EU28. Nondurable consumer goods rose by 1.1 percent and 1.3 percent respectively.

Among the member states for which data are available, the largest decreases in the total index were observed in Cyprus (-4 percent), Bulgaria (-3.9 percent), the Netherlands (-3.7 percent) and Croatia (-3 percent), and the highest increases in Estonia (+10.9 percent), Ireland (+1.6 percent), Denmark (+1.3 percent) and Romania (+1 percent).

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