Biggest price movements were in Denmark, Romania and Estonia

Durrant Pate/Contributor

Industrial producer prices across Europe inched up during May 2022.

Prices went up by 0.7 per cent in the Euro Area and by 0.8 per cent in the European Union (EU) compared to April 2022, when prices increased by 1.2 per cent and 1.3 per cent respectively. The increases were due to intermediate goods (+1.7%), non-durable consumer goods (+1.4%), durable consumer goods (+0.8%), capital goods (+0.6%) and the energy sector (+0.1%).

Prices for the total industry excluding energy, went up by 1.4 per cent. The member states with the largest monthly increases in industrial producer prices were Finland (+5.5%), Estonia (+5.4%) and Lithuania (+4.9%).

TOTAL INDUSTRY PRICES JUMP

Decreases were recorded in Ireland (-19.4%), Slovakia (-4.4%), the Netherlands (-0.8%), Bulgaria and France (-0.1% both). Increases in industrial producer prices in the Euro Area in May 2022, compared with May 2021, were recorded in the energy sector (+94.4%), intermediate products (+25.0%), non-durable consumer goods (+12.3%), durable consumer goods (+9.1%) and capital goods (+7.5%).

Prices in total industry excluding energy, jumped by 16.0 per cent. Industrial producer prices in the EU increased in the energy sector (+92.9%), the intermediate goods sector (+25.4%), the non-durable consumer goods sector (+13.2%), the durable consumer goods sector (+9.7%) and the capital goods sector (+7.8%).

Prices in total industry excluding energy, increased by 16.7 per cent. The biggest annual increases in all Member states were Denmark (+59.8%), Romania (+59.2%) and Estonia (+53.1%).