According to projections from Eurostat, the EU’s statistical agency, industrial producer prices climbed by 27.4% year over year (YoY) in the European Union (EU) in November 2022. Industrial producer prices in the Euro region increased 27.1% YoY in November 2022. Industrial producer prices in the EU and euro area both decreased by 0.9% from October 2022.
In October 2022, prices dropped 2.6% in the EU and 3% month-over-month (MoM) in the euro area.
The prices of industrial producer goods in the EU increased for non-durable consumer goods by 0.6% in November 2022 compared to October 2022, but declined for energy by 1.9% and for intermediate goods by 0.4%. According to Eurostat, prices across all industries increased by 0.1% without energy.
In the euro area, industrial producer prices in November 2022 fell by 0.4% MoM for intermediate goods and 2.2% MoM in the energy sector, while prices rose by 0.6% MoM for non-durable consumer goods. Prices in all industries, excluding energy, went up by 0.1% month over month.
The countries with the biggest monthly drops in industrial producer prices were Bulgaria (-12.6%), Slovakia (-11.6%), and Greece (-6%), while the countries with the biggest monthly rises were Italy (3.3%), Sweden (2.7%), and Ireland (2.4 per cent).
In the euro area, industrial producer prices rose by 15.3 percent for intermediate goods, 16.1 percent for non-durable consumer goods, and 55.7% in the energy sector in November 2022 compared to November 2021. Prices across all industries, excluding energy, rose by 13.1%.
Industrial producer prices in the EU climbed by 15.5% YoY for intermediate goods, 17.1% YoY for non-durable consumer goods, and 56% YoY in the energy sector. Prices across all industries, except energy, rose by 13.6% YoY.
The countries with the biggest yearly increases in industrial producer prices were Hungary (63.5%), Latvia (51.2%), and Romania (44.8 per cent). Only a decline was seen, and it was in Ireland (minus 13 per cent).
