Insider Economy Industrial producer prices up by 0.7% in Euro area and 0.4% in...

Industrial producer prices up by 0.7% in Euro area and 0.4% in Cyprus in June 2020

In June 2020, the fourth month during which Covid-19 containment measures are being applied in most Member States, industrial producer prices rose, compared with May 2020, by 0.7% in both the euro area and EU, 1.5% in Greece and by 0.4% in Cyprus, according to estimates from Eurostat, the statistical office of the European Union.

In May 2020, prices decreased by 0.6% in the euro area and by 0.5% in the EU, by -1.2% in Cyprus and increased by 1.2% in Greece. In June 2020, compared with June 2019, industrial producer prices decreased by 3.7% in the euro area, by 3.4% in the EU, by -4.4% in Greece and -1.8% in Cyprus.

Industrial producer prices in the euro area in June 2020, compared with May 2020, increased by 3.1% in the energy sector, by 0.2% for intermediate goods and by 0.1% for capital goods, while prices remained stable for durable consumer goods and decreased by 0.1% for non-durable consumer goods.

Prices in total industry excluding energy remained stable.

In the EU, industrial producer prices increased by 3.3% in the energy sector, by 0.1% for both intermediate goods and capital goods, while prices remained stable for durable consumer goods and decreased by 0.1% for non-durable consumer goods.

Prices in total industry excluding energy remained stable.

The highest increases in industrial producer prices were recorded in Estonia (+3.7%), Denmark (+3.3%) and Finland (+2.2%), while the only decreases was observed in the Czech Republic (-0.1%).

Industrial producer prices in the euro area in June 2020, compared with June 2019, decreased by 12.8% in the energy sector and by 2.5% for intermediate goods, while prices rose by 0.6% for non-durable consumer goods, by 1.0% for capital goods and by 1.2% for durable consumer goods.

Prices in total industry excluding energy decreased by 0.6%. In the EU, industrial producer prices decreased by 11.8% in the energy sector and by 2.4% for intermediate goods, while prices rose by 0.9% for non-durable consumer goods, by 1.2% for capital goods and by 1.4% for durable consumer goods. Prices in total industry excluding energy decreased by 0.4%.

The largest decreases in industrial producer prices were observed in Lithuania (-7.8%), Belgium (-7.5%), Spain and Italy (both -6.1%), while the only increases were recorded in Malta (+1.5%), Slovenia (+0.7%) and Luxembourg (+0.1%).

Source: CNA

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