Industrial producer prices up by 0.8% in the euro area

In December 2020, industrial producer prices rose by 0.8% in the euro area and by 0.9% in the EU, compared with November 2020, according to estimates from Eurostat, the statistical office of the European Union. In November 2020, prices increased by 0.4% in both the euro area and the EU.

In December 2020, compared with December 2019, industrial producer prices decreased by 1.1% in the euro area and by 1.0% in the EU.

The annual average industrial producer prices for the year 2020, compared with 2019, decreased by 2.6% in the euro area and by 2.4% in the EU.

Monthly comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in December 2020, compared with November 2020, increased by 2.2% in the energy sector, by 0.4% for intermediate goods and by 0.1% for capital goods and for durable consumer goods, while prices remained stable for non-durable consumer goods. Prices in total industry excluding energy increased by 0.3%.

In the EU, industrial producer prices increased by 2.5% in the energy sector, by 0.5% for intermediate goods and by 0.2% for capital goods, while prices remained stable for durable and for non-durable consumer goods. Prices in total industry excluding energy increased by 0.2%.

The highest increases in industrial producer prices were recorded in Ireland (+6.8%), Lithuania (+1.9%), Denmark and Romania (both +1.7%), while the only decrease was observed in Malta (‑0.1%).

Annual comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in December 2020, compared with December 2019, decreased by 4.9% in the energy sector, by 0.6% for non‑durable consumer goods and by 0.2% for intermediate goods, while prices rose by 0.8% for capital goods and by 1.3% for durable consumer goods. Prices in total industry excluding energy increased by 0.1%.

In the EU, industrial producer prices decreased by 4.8% in the energy sector and by 0.5% for non‑durable consumer goods, while prices rose by 0.2% for intermediate goods, by 1.0% for capital goods and by 1.4% for durable consumer goods. Prices in total industry excluding energy increased by 0.3%.

The largest decreases in industrial producer prices were observed in Greece (-6.0%), Lithuania (-5.7%) and Cyprus (‑5.4%), while the highest increases were recorded in Ireland (+5.8%), Hungary (+2.4%) and Malta (+1.7%).