Industrial producer price index fell 0.2% in eurozone in May from April, 0.3% in EU countries; year-over-year, prices gained 6.2% in eurozone, 7.1% in EU

Cindy Allen

BRUSSELS , July 5, 2011 (Eurostat) – In May 2011 compared with April 2011, the industrial producer price index1 fell by 0.2% in the euro area2 (EA17) and by 0.3% in the EU272. In April3 prices increased by 0.9% and 1.0% respectively.

In May 2011 compared with May 2010, industrial producer prices gained 6.2% in the euro area and 7.1% in the EU27.

Monthly changes

In May 2011, compared with the previous month, prices in total industry excluding the energy sector increased by 0.2% in both the euro area and the EU27. Prices in the energy sector fell by 1.1% and 1.3% respectively. In both zones, non-durable consumer goods gained 0.3%, while capital goods remained stable. Intermediate goods increased by 0.2% in the euro area and by 0.3% in the EU27. Durable consumer goods rose by 0.1% in the euro area and remained stable in the EU27.

Among the Member States for which data are available, the highest decreases in the total index were observed in Greece (-1.4%), Sweden and the United Kingdom (both -1.1%) and France (-0.5%), while prices remained stable in Germany, Malta, Romania and Finland. The highest increases were recorded in Cyprus (+1.8%), Latvia (+1.3%), Ireland and Lithuania (both +1.2%) and Denmark (+1.1%).

Annual changes

In May 2011 compared with May 2010, prices in total industry excluding the energy sector increased by 4.2% in the euro area and by 4.3% in the EU27. Prices in the energy sector gained 11.9% and 13.7% respectively. Intermediate goods rose by 6.6% in the euro area and by 6.8% in the EU27. Non-durable consumer goods increased by 3.7% in the euro area and by 4.1% in the EU27. Durable consumer goods rose by 1.9% in the euro area and by 1.8% in the EU27. Capital goods gained 1.2% in the euro area and 1.3% in the EU27.

Among Member States for which data are available, the largest increases in the total index were observed in the United Kingdom (+11.9%), Denmark (+10.8%), the Netherlands (+10.7%) and Bulgaria (+10.0%), and the smallest in Malta (+0.8%), Sweden (+2.3%), Hungary and Slovakia (both +3.2%).

The index of producer prices shows (in the national currency of the country concerned) changes in the ex-works sale prices of all products sold on the domestic markets of the various countries, excluding imports. Euro area and EU indices refer to overall weighted price changes. The figures are not adjusted. Missing observations from Member States for recent months are estimated for the calculation of the euro area and the EU.

The weights of the Member States in the EU and euro area aggregates can be found at:

http://circa.europa.eu/Public/irc/dsis/ebt/library?l=/sts_weights_public&vm=detailed&sb=Title
See file: EU_EA17_NEWS_RELEASE_WEIGHTINGS_2005_nace2
2.
The euro area (EA17) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The EU27 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK).
3.
Compared with data issued in the News Release 77/2011 of 6 June 2011, the monthly growth rates for April 2011 remain unchanged in both zones. The annual growth rate for April 2011 remains unchanged in the euro area and has been revised from +7.8% to +7.7% in the EU27.

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