Industrial producer prices down by 0.5% in the euro area and by 0.6% in the EU

September 7, 2023

In July 2023, industrial producer prices fell by 0.5% in the euro area and by 0.6% in the EU, compared with June 2023, according to estimates from Eurostat, the statistical office of the European Union. In June 2023, prices decreased by 0.4% in both the euro area and the EU. In July 2023, compared with July 2022, industrial producer prices decreased by 7.6% in the euro area and by 6.6% in the EU

Monthly comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in July 2023, compared with June 2023, decreased by 1.2% for intermediate goods and by 0.9% in the energy sector, while prices increased by 0.1% for non-durable consumer goods and by 0.2% for both capital goods and durable consumer goods. Prices in total industry excluding energy decreased by 0.4%.

In the EU, industrial producer prices decreased by 1.2% for intermediate goods, by 1.0% in the energy sector and by 0.1% for non-durable consumer goods, while prices remained stable for durable consumer goods, and prices increased by 0.2% for capital goods. Prices in total industry excluding energy decreased by 0.4%. The largest monthly decreases in industrial producer prices were recorded in Ireland (-8.1%), the Netherlands (-2.6%) and Sweden (-1.8%), while the highest increases were observed in Latvia (+2.2%), Slovakia (+1.7%) and Croatia (+1.3%).

Annual comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in July 2023, compared with July 2022, decreased by 24.2% in the energy sector and by 4.0% for intermediate goods, while prices increased by 4.7% for capital goods, by 5.1% for durable consumer goods and by 7.6% for non-durable consumer goods. Prices in total industry excluding energy increased by 1.6%.

In the EU, industrial producer prices decreased by 21.5% in the energy sector and by 3.9% for intermediate goods, while prices increased by 4.5% for capital goods, by 4.6% for durable consumer goods and by 7.6% for non-durable consumer goods. Prices in total industry excluding energy increased by 1.6%. The largest annual decreases in industrial producer prices were recorded in Ireland (-39.5%), Bulgaria (-18.1%) and Italy (-13.8%), while the highest increases were observed in Hungary (+18.8%), Slovakia (+17.8%) and Slovenia (+6.8%).

Source: Eurostat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.