Industrial Producer Prices in the EU and Euro Area: August 2023 Sees 0.6% and 0.5% Monthly Increases, While Prices Drop by 11.5% and 10.5% Annually

October 6, 2023

In August 2023, industrial producer prices rose by 0.6% in the euro area and by 0.5% in the EU, compared with July 2023, according to estimates from Eurostat, the statistical office of the European Union. In July 2023, prices decreased by 0.5% in the euro area and by 0.7% in the EU.

In August 2023, compared with August 2022, industrial producer prices decreased by 11.5% in the euro area and by 10.5% in the EU.

Monthly comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in August 2023, compared with July 2023, increased by 2.5% in the energy sector, while prices remained stable for capital goods and for non-durable consumer goods, and prices decreased by 0.1% for durable consumer goods and by 0.4% for intermediate goods. Prices in total industry excluding energy decreased by 0.2%.

In the EU, industrial producer prices increased by 2.2% in the energy sector, while prices remained stable for durable consumer goods and for non-durable consumer goods, and prices decreased by 0.1% for capital goods and by 0.4% for intermediate goods. Prices in total industry excluding energy decreased by 0.2%. 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%).

Annual comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in August 2023, compared with August 2022, decreased by 30.6% in the energy sector and by 4.5% for intermediate goods, while prices increased by 4.3% for capital goods, by 4.7% for durable consumer goods and by 6.7% for non-durable consumer goods. Prices in total industry excluding energy increased by 1.0%.

In the EU, industrial producer prices decreased by 28.3% in the energy sector and by 4.5% for intermediate goods, while prices increased by 4.1% for capital goods and for durable consumer goods and by 6.7% for non-durable consumer goods. Prices in total industry excluding energy increased by 0.9%. The largest decreases in industrial producer prices were observed in Ireland (-51.2%), Bulgaria (-27.2%) and Belgium (-16.6%). The highest annual increases were recorded in Slovakia (+9.8%), Hungary (+7.8%) and Croatia (+4.0%).

Source: Eurostat
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