European Industrial Producer Prices Up 0.8% in October

In October 2016, compared with September 2016, industrial producer prices rose by 0.8 percent in the euro area (EA19) and by 1 percent in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In September 2016 prices increased by 0.1 percent in both zones, mdm.com reports.

In October 2016, compared with October 2015, industrial producer prices fell by 0.4 percent in the euro area, while it rose by 0.2 percent in the EU28.

The 0.8 percent increase in industrial producer prices in total industry in the euro area in October 2016, compared with September 2016, is due to rises of 2.6 percent in the energy sector, of 0.3 percent for non-durable consumer goods and of 0.1 percent for both intermediate goods and durable consumer goods, while prices remained stable for capital goods. Prices in total industry excluding energy rose by 0.1 percent.

In the EU28, the 1 percent increase is due to rises of 3.5 percent in the energy sector, of 0.3 percent for non-durable consumer goods, of 0.2 percent for both intermediate goods and capital goods and of 0.1 percent for durable consumer goods. Prices in total industry excluding energy rose by 0.1 percent.

The largest increases in industrial producer prices were recorded in Estonia (+3.3 percent), the Netherlands (+2.7 percent) and Belgium (+2.5 percent), while decreases were observed in Latvia (-0.8 percent), Italy, Luxembourg and Slovenia (all -0.2 percent).

The 0.4 percent decrease in industrial producer prices in total industry in the euro area in October 2016, compared with October 2015, is due to price falls of 1.5 percent in the energy sector and of 0.8 percent for intermediate goods, while prices increased by 0.5 percent for both capital goods and non-durable consumer goods and by 1 percent for durable consumer goods. Prices in total industry excluding energy remained stable.

In the EU28, the 0.2 percent price increase is due to rises of 1 percent for durable consumer goods, of 0.9 percent for capital goods, of 0.7 percent for non-durable consumer goods and of 0.5 percent in the energy sector, while prices fell by 0.5 percent for intermediate goods. Prices in total industry excluding energy also rose by 0.2 percent.

The largest decreases in industrial producer prices were observed in Luxembourg (-7.3 percent), Slovakia (-2.9 percent) and Latvia (-2.6 percent), and the highest increases in the United Kingdom (+4.5 percent), Belgium (+2.2 percent) and Sweden (+2 percent).

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