Eurozone Producer Prices Increase 1.9 Percent Annually, EU at 2.1 Percent

(MENAFN) Eurostat reported Tuesday that factory gate prices in the eurozone increased by 1.9% compared to the previous year in March, with the broader European Union seeing a 2.1% annual rise.

Breaking down the yearly figures for the euro area, energy costs saw the largest jump at 3.8%, followed by capital goods at 1.8%, non-durable consumer goods at 1.7%, durable consumer goods at 0.9%, and intermediate goods at 0.8%.

Across the EU, the annual price increases were led by energy at 4.1%, non-durable consumer goods at 1.9%, capital goods at 1.7%, durable consumer goods at 1%, and intermediate goods at 0.9%.

Bulgaria, Ireland, and Denmark experienced the most significant year-over-year growth in industrial producer prices, while Luxembourg, Portugal, France, and Lithuania saw the largest declines.

However, on a month-to-month basis, producer prices in both the euro area and the EU registered a 1.6% decrease, according to official data.

Looking at the monthly changes within the euro area, non-durable consumer goods rose by 0.5%, durable consumer goods by 0.2%, and capital goods by 0.1%. Energy prices, conversely, fell sharply by 5.8%, while intermediate goods remained stable.

In the EU, month-on-month prices for non-durable consumer goods increased by 0.5%, durable and intermediate goods both rose by 0.2%, and capital goods saw a 0.1% uptick. Energy prices in the EU also dropped significantly, by 5.5%, and capital goods remained stable.

Estonia, Spain, and Italy recorded the largest monthly drops in industrial producer prices, while Greece, Luxembourg, and Slovenia reported the biggest increases.

Eurostat specified that the eurozone, also known as EA19, comprises the member nations utilizing the euro as their common currency. In contrast, the EU27 encompasses all countries within the European Union.

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