Industrial producer prices in both the euro area and the EU rose by 2.7% in September 2021 compared with August, according to estimates from Eurostat, the statistical office of the European Union. The annual change was 16% and 16.2% respectively. In Cyprus prices were up by 12.7% on an annual basis and 0.5% on a monthly basis.
Eurostat notes that in August 2021, industrial producer prices had increased by 1.1% in both the euro area and the EU.
Also this September, compared with September 2020, industrial producer prices increased by 16.0% in the euro area and by 16.2% in the EU.
In Cyprus, industrial producer prices increased by 0.5% in September compared to August. In August, prices had remained at the same level compared with July.
Compared with September 2020, industrial producer prices in Cyprus increased by 12.7% in September 2021.
Broken down by industrial grouping, industrial producer prices in the euro area in September 2021, compared with August 2021, increased by 7.7% in the energy sector, by 1.0% for intermediate goods, by 0.5% for capital goods, by 0.4% for durable consumer goods and by 0.3% for non-durable consumer goods. Prices in total industry excluding energy increased by 0.6%.
In the EU during the same period, industrial producer prices increased by 7.8% in the energy sector, by 1.0% for intermediate goods, by 0.6% for capital goods, by 0.5% for durable consumer goods and by 0.3% for non-durable consumer goods. Prices in total industry excluding energy increased by 0.6%.
The industrial producer prices increased in all member states, with the highest monthly increases being registered in Ireland (23.2%), Denmark (8.4%) and Greece (5.8%).
Furthermore, compared with September 2020, industrial producer prices in the euro area increased by 40.7% in the energy sector, by 15.2% for intermediate goods, by 3.5% for capital goods and for durable consumer goods and by 3.0% for non-durable consumer goods. Prices in total industry excluding energy increased by 8.1%.
In the EU, industrial producer prices increased by 40.1% in the energy sector, by 15.7% for intermediate goods, by 4.0% for durable consumer goods, by 3.6% for capital goods and by 3.1% for non-durable consumer goods. Prices in total industry excluding energy increased by 8.3%.
The industrial producer prices increased in all member states, with the highest yearly increases being registered in Ireland (82.9%), Denmark (34.4%) and Estonia (29.9%).