Local
articles | 02 July 2019

Cyprus sees highest increase in industrial producer prices in EU: May 2019

Monthly industrial producer prices for energy and consumer goods rose sharpest in Cyprus at 2.4% the largest hike in the EU.

In May 2019, compared with April, industrial producer prices fell by 0.1% in the euro area (EA19) and remained unchanged in the EU28, according to Eurostat.

In April 2019, prices decreased by 0.3% in the euro area and remained unchanged in the EU28.

In May 2019, compared with May 2018, industrial producer prices rose by 1.6% in the euro area and by 1.9% in the EU28.

Industrial producer prices in the euro area in May, compared with April, fell by 0.6% in the energy sector and by 0.1% for intermediate goods, while prices rose by 0.1% for capital goods and durable consumer goods, and by 0.2% for non-durable consumer goods.

Prices in total industry excluding energy remained unchanged.

In the EU28, industrial producer prices fell by 0.3% in the energy sector and by 0.1% for intermediate goods, while prices remained unchanged for durable consumer goods, rose by 0.1% for capital goods and by 0.2% for nondurable consumer goods. Prices in total industry excluding energy rose by 0.1%.

The largest decreases in industrial producer prices were recorded in Luxembourg (-1.0%), Greece (-0.8%) and Latvia (-0.6%), while the highest increases were observed in Cyprus (+2.4%), Hungary (+0.8%) and Czechia (+0.5%).

Industrial producer prices in the euro area in May, compared with May 2018, rose by 3.1% in the energy sector, by 1.6% for capital goods, by 1.4% for durable consumer goods, by 0.9% for non-durable consumer goods and by 0.8% for intermediate goods.

Prices in total industry excluding energy rose by 1.0%.

In the EU28, industrial producer prices rose by 3.3% in the energy sector, by 1.6% for capital goods, by 1.3% for durable consumer goods, by 1.2% for non-durable consumer goods and by 1.1% for intermediate goods. Prices in total industry excluding energy rose by 1.3%.

Industrial producer prices rose in all Member States, with the highest increases in Romania (+5.9%), Latvia and Hungary (both +5.4%), and Slovakia (+4.1%).

Source: Financial Mirror

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