Eurozone Industrial Producer Prices Up 5.3% In March
According to new data from the European Community Statistics Office (Eurostat), industrial producer prices rose by 5.3% in the euro area and by 5.4% in the member states of the European Union (EU) in March this year compared to the previous month. On an annualized basis, in March this year, industrial producer prices rose by 36.8% in the euro area and by 36.5% in the EU.
In March, compared to February, prices in the energy sector rose by 11.1% in the euro area and by 11.6% in the EU. Capital goods prices rose 0.8% in the euro area and 1 percent in the EU, while durable goods prices rose 0.8% in the euro area and 1 percent in the EU compared to the previous month. In the same month, non-durable goods prices rose 2.4% in the euro area and 2.6% in the EU, while prices for intermediate goods rose 2.8% in the euro area and 2.9% in the EU, all month by month.
Among Member States for which data are available, the largest monthly increases in industrial producer prices were recorded in Ireland (+36.1%), Greece (+8.8%) and Portugal (+8.4%). observed only in Slovakia (-1.1%). In that month, compared to March 2021, prices in the energy sector rose by 104.1 percent in the euro area and by 101.3 percent in the EU. Prices for intermediate goods rose 22.6% in the euro area and 22.8% in the EU, while prices for durable goods rose 7.9% in the euro area and 8.4% in the EU, all on an annualized basis. In the same month, non-durable goods prices rose 8.7% in the euro area and 9.5% in the EU year on year. Capital goods prices rose 6.5% in the euro area and 6.9% in the EU year on year.
Among Member States for which data are available, Ireland (+106.1%), Romania (+67.6%) and Denmark (+62.0%) had the largest annual increases.