December 13, 2023
The European Union’s statistical office (Eurostat) forecasts that industrial producer prices increased by 0.2% in both the euro area and EU in October 2023 relative to September 2023, wherein prices grew by 0.5% in both zones.
Relative to October 2022, industrial producer prices fell by 9.4% in the euro area and 8.7% in the EU in October 2023.
Monthly comparison by main industrial grouping and by Member State
Increases in industrial producer prices in the euro area in October 2023, relative to September 2023, were recorded in the energy sector (+1.0%) and for durable consumer goods (+0.1%). Prices remained unchanged for capital goods, and price decreases were recorded for non-durable consumer goods (-0.1%), and intermediate goods (-0.3%). Prices for the total industry excluding energy fell by 0.2%.
Industrial producer prices in the EU increased in the energy sector (+0.6%), while prices remained unchanged for durable consumer goods and capital goods. Prices decreased for non-durable consumer goods (-0.1%), and intermediate goods (-0.3%). Prices in total industry excluding energy fell by 0.2%.
The Member states with the largest monthly increases in industrial producer prices were Ireland (+4.9%), Italy (+2.2%) and the Netherlands (+0.7%). The largest decreases were recorded in Luxembourg (-3.7%), Latvia (-2.7%) and Greece (-1.9%).
Annual comparison by main industrial grouping and by Member State
Increases in industrial producer prices in the euro area in October 2023, relative to October 2022, were recorded for capital goods and durable consumer goods by 3.7%, and durable consumer goods by 4.2%, while prices decreased for the energy sector (-25.0%), and intermediate goods (-5.3%). Prices in total industry excluding energy fell by 0.2%.
Industrial producer prices in the EU increased for durable consumer goods (+3.1%), capital goods (+3.5%), and non-durable consumer goods (+4.0%). Prices decreased in the energy sector (-22.7%), and intermediate goods (-5.3%). Prices in total industry excluding energy fell by 0.3%.
The largest annual increases in all Member states were recorded in Luxembourg (+18.4%), Slovenia (+2.5%), and Slovakia (+1.1%), while the largest yearly declines in industrial producer prices were recorded in Bulgaria (-25.9%), Belgium (-20.5%), and Greece (-14.7%).
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