Monthly producer inflation in Eurozone increases 0.06 percent in August
Date
10/3/2024 8:00:27 AM
(MENAFN) According to Eurostat's report released on Thursday, industrial producer prices in the euro area saw a monthly increase of 0.6 percent in August, while the European Union (EU) recorded a slightly lower rate of 0.4 percent. Despite this month-on-month growth, on a yearly basis, producer prices declined by 2.3 percent in the euro area and by 2.1 percent in the EU, indicating a broader trend of decreasing prices over the year.
Analyzing the month-on-month performance, the euro area experienced a 0.1 percent decrease in industrial producer prices for intermediate goods. However, there were notable increases in other categories, with energy prices rising by 1.9 percent and capital goods by 0.1 percent. Prices for durable consumer goods and non-durable consumer goods remained stable during this period. In the EU, intermediate goods and durable consumer goods both saw a 0.1 percent decline, while non-durable consumer goods prices increased by 0.1 percent, capital goods by 0.2 percent, and energy prices surged by 1.1 percent.
Estonia reported the highest monthly increase in industrial producer prices, with a rise of 2.2 percent, while Ireland experienced the most significant decrease at 3.8 percent. These fluctuations reflect varying economic conditions and responses to market dynamics across member states.
On the annual scale, the euro area saw a decrease of 0.8 percent in prices for intermediate goods and a more significant drop of 7.7 percent for energy. In contrast, prices for durable consumer goods increased by 0.3 percent, non-durable consumer goods by 1.1 percent, and capital goods by 1.4 percent. Similarly, in the EU, prices for intermediate goods fell by 0.8 percent and by 7 percent for energy, but increased by 0.1 percent for durable consumer goods, 1 percent for non-durable consumer goods, and 1.7 percent for capital goods. Slovakia recorded the largest annual decrease in industrial producer prices at 18.3 percent, whereas Romania noted the highest increase at 2.8 percent.
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