Industrial producer prices up by 2.2% in Cyprus, and 0.1% in the Eurozone

Industrial producer prices up by 2.2% in Cyprus, and 0.1% in the Eurozone

Nicosia, September 2, 2016/Independent Balkan News Agency

In July 2016, compared with June 2016, industrial producer prices rose by 0.1% in both the euro area (EA19) and the EU28, according to estimates from Eurostat, the statistical office of the European Union. In June 2016 prices increased by 0.8% in both zones. In July 2016, compared with July 2015, industrial producer prices decreased by 2.8% in the euro area and by 2.5% in the EU28.

In Cyprus, prices increased by 2.2 % in July compared to June and decreased by 3.6% since last year.

The 0.1% increase in industrial producer prices in total industry in the euro area in July 2016, compared with June 2016, is due to rises of 0.3% for non-durable consumer goods, of 0.2% for intermediate goods and of 0.1% for both capital goods and durable consumer goods, while prices fell by 0.4% in the energy sector. Prices in total industry excluding energy increased by 0.2%. In the EU28, the 0.1% increase is due to rises of 0.3% for non-durable consumer goods, of 0.2% for both intermediate goods and capital goods and of 0.1% for durable consumer goods, while prices fell by 0.3% in the energy sector. Prices in total industry excluding energy increased by 0.2%. The highest increases in industrial producer prices were observed in Cyprus (+2.2%), the United Kingdom (+0.6%), Luxembourg (+0.4%) and Belgium (+0.3%), and the largest decreases in Estonia (-2.3%), Denmark (-1.3%), the Netherlands (-1.1%) and Greece (-1.0%).

The 2.8% decrease in industrial producer prices in total industry in the euro area in July 2016, compared with July 2015, is due to price falls of 8.4% in the energy sector, of 2.3% for intermediate goods and of 0.3% for non-durable consumer goods, while prices rose by 0.5% for capital goods and by 0.8% for durable consumer goods. Prices in total industry excluding energy fell by 0.8%. In the EU28, the 2.5% price decrease is due to falls of 7.7% in the energy sector, of 1.9% for intermediate goods and of 0.2% for non-durable consumer goods, while prices rose by 0.8% for capital goods and by 0.9% for durable consumer goods. Prices in total industry excluding energy fell by 0.5%. Industrial producer prices fell in nearly all Member States, with the largest decreases observed in Greece (-7.0%), the Netherlands (-6.4%), Croatia (-5.0%) and Slovakia (-4.7%). Industrial producer prices increased only in Malta (+0.9%), Denmark (+0.4%) and Sweden (+0.1%).

Sources: Cyprus News Agency