Industrial producer prices in Cyprus down by -4.9% and up by 0.6% in annual and monthly basis for May 2016 

Industrial producer prices in Cyprus down by -4.9% and up by 0.6% in annual and monthly basis for May 2016 

Brussels, July 4, 2016/Independent Balkan News Agency

By Athanasios Athanasiou – CNA 

Industrial producer prices increased by 0.6% in Cyprus in May 2016 compared to previous month, after being stable 0.0% in April 2016 and dropping by -1.9% in March. In an annual basis industrial producer prices dropped by -4.9%  for the same month, all according to estimates from Eurostat, the statistical office of the European Union.

In May 2016, compared with April 2016, industrial producer prices rose by 0.6% in both the euro area (EA19) and the EU28. In April 2016 prices fell by 0.3% in the euro area and by 0.1% in the EU28. In May 2016, compared with May 2015, industrial producer prices decreased by 3.9% in the euro area and by 3.7% in the EU28.

The 0.6% increase in industrial producer prices in total industry in the euro area in May 2016, compared with April 2016, is due to rises of 1.7% in the energy sector, of 0.3% for intermediate goods and of 0.1% for non-durable consumer goods. Prices remained stable for both capital goods and durable consumer goods. Prices in total industry excluding energy increased by 0.2%. In the EU28, the 0.6% increase is due to rises of 2.1% in the energy sector, of 0.3% for intermediate goods and of 0.1% for non-durable consumer goods. Prices remained stable for both capital goods and durable consumer goods. Prices in total industry excluding energy increased by 0.2%. Industrial producer prices rose in nearly all Member States, with the highest increases observed in Belgium (+2.7%), the Netherlands (+2.0%), Hungary (+1.6%) and Greece (+1.3%). Industrial producer prices decreased only in Latvia (-0.4%), Sweden (-0.2%) and Bulgaria (-0.1%).

The 3.9% decrease in industrial producer prices in total industry in the euro area in May 2016, compared with May 2015, is due to price falls of 10.8% in the energy sector, of 2.9% for intermediate goods and of 0.6% for non-durable consumer goods, while prices rose by 0.4% for capital goods and by 0.9% for durable consumer goods. Prices in total industry excluding energy fell by 1.2%. In the EU28, the 3.7% price decrease is due to falls of 11.3% in the energy sector, of 2.6% for intermediate goods and of 0.6% for non-durable consumer goods, while prices rose by 0.6% for capital goods and by 0.9% for durable consumer goods. Prices in total industry excluding energy fell by 1.0%. Industrial producer prices fell in all Member States except Malta (+0.9%). The largest decreases were observed in the Netherlands (-8.2%), Greece (-8.1%), Croatia (-6.3%) and Slovakia (-5.9%).

Source: CNA