Eurostat: Increase in producer prices in industry in the EU, eurozone and Cyprus

Producer prices in industry in the euro area and the European Union increased by 2,9% in December 2021 compared to November of the same year, according to data published by Eurostat, the EU statistical office.

Compared to December 2020, producer prices in industry increased by 26,2% in both the euro area and the EU.

The annual average producer prices in industry for 2021 increased by 12,2% compared to the corresponding average for 2020 in both the euro area and the EU.

By sector, industrial producer prices in the euro area in December increased by 7,0% in the energy sector, by 0,7% in intermediate goods, by 0,6% in non-durable goods, by 0,3% compared to November , 0,2% in capital goods and 0,5% in durable goods. Prices in general industry with the exception of the energy sector increased by XNUMX%.

In the EU, producer prices in industry increased by 6,9% on a monthly basis in the energy sector, by 0,7% on intermediate and non-durable goods, by 0,3% on capital goods and by 0,2% on durable goods. Prices in general industry with the exception of the energy sector increased by 0,6%.

The largest monthly increases in producer prices in industry were recorded in Ireland (increase of 13,3%), Estonia (increase of 12,7%) and Greece (increase of 8,0%), while the only decrease was observed in the Czech Republic (decrease of 0,1 , XNUMX%).

In Cyprus there was an increase of 0,6% in producer prices between November and December 2021.

Compared to December 2020, industrial producer prices in the euro area increased by 73,4% in the energy sector, by 18,6% in intermediate goods, by 4,8% in durable goods, by 4,6% in capital goods and 4,5% in non-durable goods. Prices in general industry with the exception of the energy sector increased by 10,0%.

In the EU, producer prices in industry increased by 71,9% year-on-year in the energy sector, by 18,9% in intermediate goods, by 5,3% in durable goods, by 5,0% in non-durable goods and by 4,7% in capital goods. Prices in general industry with the exception of the energy sector increased by 10,5%.

Producer prices in industry increased annually in all Member States, with the largest increases being recorded in Ireland (99,2% increase), Denmark (58,9% increase) and Romania (42,3% increase).

In Cyprus there was a 21,0% increase in producer prices between December 2020 and December 2021.