Producer prices up 1.9% in eurozone, climb 2.1% in EU in March

By Gokhan Ergocun

ISTANBUL (AA) - Producer prices in the euro area rose 1.9% in March on a yearly basis, while climbing 2.1% in the EU, Eurostat said on Tuesday.

Year-on-year prices in the euro area rose 3.8% for energy, 1.8% for capital goods, 1.7% for non-durable consumer goods, 0.9% for durable consumer goods, and 0.8% for intermediate goods.

On the EU side, prices climbed 4.1% for energy, 1.9% for non-durable consumer goods, 1.7% for capital goods, 1% for durable consumer goods, and 0.9% for intermediate goods.

The highest annual increases in industrial producer prices were seen in Bulgaria (22%), Ireland (10.6%), and Denmark (10.2%), and the largest decreases were in Luxembourg (minus 4.5%), Portugal (minus 1%), France and Lithuania (both minus 0.6%).

On a monthly basis, producer prices fell 1.6% in both the eurozone and the EU, official figures showed.

Month-on-month prices rose 0.5% for non-durable consumer goods, 0.2% for durable consumer goods and 0.1% for capital goods, while dropping 5.8% for energy and remaining stable for intermediate goods in the euro area.

On the EU side, prices rose 0.5% for non-durable consumer goods, 0.2% both for durable consumer and intermediate goods, and 0.1% for capital goods, while dropping 5.5% for energy and remaining stable for capital goods.

The largest monthly decreases in industrial producer prices were seen in Estonia (minus 8%), Spain minus 3.9%), and Italy (minus 3.3%), and the highest increases were in Greece (1.3%), Luxembourg (0.9%), and Slovenia (0.6%).

The eurozone/euro area, or EA19, represents member states that use the single currency – the euro – while the EU27 includes all member countries of the bloc.