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)