The producer prices in Eurozone industry remained unchanged in February from the previous month, according to the latest Eurostat data. At the same time, the prices in the European Union (EU) reported a slight increase of 0.1% over the same period. In January in both regions was noted price increase of 1.1% compared to December 2016.
On an annual basis, however, there is strong growth in both the 19-nation Eurozone and throughout the EU. Compared to February 2016 the producer prices in industry in E-19 increased by 4.5% and in the E-28 bloc by 5.3%.
According to Eurostat the positive impact on producer prices in the Eurozone and European Union was reported in intermediate goods (+0.6% mom), durable consumer goods (+0.2% mom) and capital and durable consumer goods (+0.1% mom). Negatively impacted the energy sector, however, where prices have decreased by 1.1% in E-19 and 0.7% in E-28.
The highest growth in producer prices was noted in Greece (1.3%), Ireland (0.8%) and Denmark (0.7%), while the largest decline was in Portugal (-1.5%), Spain (-1.4%) and Luxembourg (-0.6%). In Bulgaria, the level remained unchanged from the previous month at -0.6%.
The year-on-year positive impact on prices in the Eurozone and the EU had mostly energy sector respectively with an increase of 11.4% and 15.7% and intermediate goods by 3.3%.
The largest increase in producer prices was observed in Belgium (14.8%), the Netherlands (11.0%) and the UK (10.3 percent) and most serious decline – in Luxembourg (-3.1%).