Euro area industrial producer prices up by 5% in August

Prices surged 43.3% on annual basis, official data shows

Industrial producer prices in the euro area jumped 5% month-on-month in August,the biggest rise since March, according to official data released on Tuesday.

The figure was above market forecasts of a 4.9% rise.

“Industrial producer prices increased by 11.9% in the energy sector, by 0.9% for non-durable consumer goods, by 0.3% for capital goods and for durable consumer goods and by 0.1% for intermediate goods,” Eurostat, the EU’s statistical office, said in a report.

Prices in industry overall, excluding energy, rose 0.3%.

The highest monthly increases in industrial producer prices were seen in Ireland (28.4%), Bulgaria (12.5%), and Hungary (10.6%), while the only decreases were seen in Luxembourg (-1.8%), Portugal (-0.6%), and the Czech Republic (-0.1%).

Meanwhile, on an annual basis, industrial producer prices soared 43.3% in the euro area.


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