Insider Business Industrial producer prices in Europe and Cyprus decrease in May

Industrial producer prices in Europe and Cyprus decrease in May

In May 2020, industrial producer prices fell, compared with April 2020, by 0.6% in the euro area by 0.5% in the EU and by 1.2 in Cyprus according to estimates from Eurostat, the statistical office of the European Union. In April 2020, prices decreased by 2.0% in the euro area, by 1.9% in the EU and by 0.4 in Cyprus. In May 2020, compared with May 2019, industrial producer prices decreased by 5.0% in the euro area, by 4.6% in the EU and by 1.9 in Cyprus.

Industrial producer prices in the euro area in May 2020, compared with April 2020, decreased by 1.4% in the energy sector, by 0.6% for non-durable consumer goods and by 0.4% for intermediate goods, while prices remained stable for capital goods and for durable consumer goods. Prices in total industry excluding energy decreased by 0.3%.

In the EU, industrial producer prices decreased by 1.2% in the energy sector, by 0.6% for non-durable consumer goods and by 0.4% for intermediate goods, while prices remained stable for capital goods and for durable consumer goods. Prices in total industry excluding energy decreased by 0.4%.

The largest decreases in industrial producer prices were recorded in Belgium (-4.6%), Slovakia (-1.7%) and Lithuania (-1.3%), while the only increases were observed in Greece (+1.2%), Estonia (+0.7%) and Czechia (+0.4%).

Industrial producer prices in the euro area in May 2020, compared with May 2019, decreased by 17.2% in the energy sector and by 2.9% for intermediate goods, while prices rose by 0.9% for capital goods and for non-durable consumer goods and by 1.3% for durable consumer goods. Prices in total industry excluding energy decreased by 0.6%.

In the EU, industrial producer prices decreased by 16.6% in the energy sector and by 2.7% for intermediate goods, while prices rose by 1.1% for capital goods, by 1.2% for non-durable consumer goods and by 1.4% for durable consumer goods. Prices in total industry excluding energy decreased by 0.5%.

The largest decreases in industrial producer prices were observed in Lithuania (-11.3%), Belgium (-9.6%) and Spain (-8.7%), while the only increases were recorded in Malta (+1.5%) and Luxembourg (+0.1%).

(CNA)

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