According to the Statistical Office of European Union (Eurostat), euro area and EU experienced a 0.4% increase in industrial producer prices in November 2020 when compared to October 2020. However, in October 2020, prices rose by 0.4% in the euro area and by 0.3% in the EU.
Notably, “in November 2020, compared with November 2019, industrial producer prices decreased by 1.9% in the euro area and by 1.8% in the EU,” as per Eurostat.
Monthly comparison by main industrial grouping and by Member State
Eurostat noted, “industrial producer prices in the euro area in November 2020, compared with October 2020, increased by 1.3% in the energy sector, by 0.3% for intermediate goods and by 0.1% for durable consumer goods, while prices remained stable for capital goods and non-durable consumer goods. Prices in total industry excluding energy increased by 0.1%.”
Furthermore, “in the EU, industrial producer prices increased by 1.4% in the energy sector, and by 0.2% for intermediate goods and durable consumer goods, while prices remained stable for non-durable consumer goods and decreased by 0.1% for capital goods. Prices in total industry excluding energy increased by 0.1%,” as per Eurostat
The highest increases in industrial producer prices were recorded in Denmark and France (both +1.7%), Estonia (+1.2%) and Romania (+1.1%), while the largest decreases were observed in Ireland (-1.4%), Slovakia (-0.7%) and Czechia (-0.5%).
Annual comparison by main industrial grouping and by Member State
Industrial producer prices in the euro area for November 2020, compared with November 2019, decreased by 7.5% in the energy sector, by 0.6% for intermediate goods and by 0.1% for non-durable consumer goods, while prices rose by 0.8% for capital goods and by 1.2% for durable consumer goods. Prices in total industry excluding energy remained stable. In the EU, industrial producer prices decreased by 7.5% in the energy sector and by 0.5% for intermediate goods, while prices rose by 0.1% for non-durable consumer goods, by 0.9% for capital goods and by 1.5% for durable consumer goods. Prices in total industry excluding energy increased by 0.2%.
The largest decreases in industrial producer prices were observed in Lithuania (-7.3%), Greece (-6.8%) and Cyprus (-6.1%), while the only increases were recorded in Malta (+1.8%), Hungary and Slovenia (both +1.1%).
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