European Union Industrial producer price index (Euro PPI) has seen a faster pace of expansion in January than the preceding month.
In Euro Area and the EU28, Euro PPI expanded 0.4 percent in the month. This was faster than the 0.1 percent seen in both Euro Area and the EU28 in December.
On a year-on-year basis, industrial producer prices increased 1.5 percent in the Euro Area while it was 1.9 percent in respect of the EU28.
On a monthly term, Euro Area’s PPI advanced due to 0.6 percent increase in intermediate goods prices. Of this, 0.4 percent accounted for both capital goods and durable consumer goods while energy sector represented 0.3 percent.
Excluding energy, total industry prices advanced 0.5 percent. On the other hand, non-durable consumer goods price fell 0.1 percent.
As far as the EU28 is concerned, the PPI expansion was attributed to 1.0 percent increase in energy sector. Of this, 0.7 percent accounted for intermediate goods while 0.4 percent was for capital goods and 0.3 percent for durable consumer goods. Excluding energy, total industry prices grew 0.4 percent. However, non-durable consumer goods price fell 0.1 percent in the month.
The release added, “The highest increases in industrial producer prices were observed in Estonia (+2.9%), Portugal (+1.5%), Romania (+1.3%), Denmark, Latvia and Slovakia (all +1.1%), while the only decrease was recorded in Ireland (-0.4%).”