Producer prices in the Eurozone rose by 0.4% mom in October 2017

December 5, 2017 6:19 pmComments Off on Producer prices in the Eurozone rose by 0.4% mom in October 2017Views: 35

producer prices eurozoneThe producer prices in the Eurozone rose by 0.4% mom in October 2017, according to the latest data from the European Statistical Office, Eurostat. The increase in the European Union is the same. In September, the growth rate of producer prices in the Eurozone and in the EU was slightly faster, growing by 0.6% mom.

On an annual basis, there is still much more significant growth both in the EU and in the 19-member Eurozone. Compared to October 2016, manufacturing prices rose by 2.5% in the Eurozone and by 3.3% in the 28-member EU.

According to Eurostat, the energy sector (growth of 1.3%) and intermediate goods (growth of 0.3%) had a positive impact on Eurozone production prices on a monthly basis. At the same time, the prices of capital goods and durable consumer goods remained stable, while non-durable consumer goods declined by 0.2%.

In the EU as a whole, the 0.4% increase was mainly due to the energy sector (1.2%) and intermediate goods (0.3%). The prices of capital goods and durable consumer goods remain unchanged, while the decline in perishable consumer goods is 0.1%.

The largest growth of producer prices on monthly basis was recorded in Belgium (2.4%), Ireland (1.5%), Romania (1.0%) and Spain (0.8%). However, several countries reported a decline – Denmark (-1.5%), Cyprus and Latvia (-0.5%) and Estonia (-0.4%).

On a year-on-year basis, the intermediate price (3.5% and 3.6%) and the energy sector (3.1% and 3.5%) have a positive impact on prices both in the Eurozone and the EU.

The largest growth in annual producer prices was recorded in Belgium (6.9%), Bulgaria (5.5%), Poland (4.5%), Hungary (4.4%) and Ireland (4.3%).

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