Producer prices rise in EU, euro area month-on-month in August

By Gokhan Ergocun

ISTANBUL (AA) - Industrial producer prices increased by 0.6% in the euro area and 0.5% in the EU in August on a monthly basis, while both dropped year-on-year, the bloc's statistical office said on Wednesday.

According to Eurostat, producer prices were up by 2.5% in the energy sector on a monthly basis, while they remained stable for capital goods and non-durable consumer goods in the euro area.

Prices also decreased by 0.1% for durable consumer goods and 0.4% for intermediate goods month-on-month in August.

On the EU side, prices were up in energy by 2.2%, down 0.1% for capital goods and 0.4% for intermediate goods and stable in the rest.

Among the member countries, the biggest monthly increases in industrial producer prices were observed in Ireland (+3.7%), Finland (+2.4%), and Greece (+2.0%), while the largest decreases were recorded in Romania (-1.3%), Slovenia (-0.7%), and Belgium (-0.6%).

Eurostat also said industrial producer prices decreased by 11.5% in the euro area and 10.5% in the EU year-on-year in August.