The biggest annual declines in industrial production prices were recorded in Slovakia (-24.6%), Ireland (-19.8%) and Belgium (-13.4%). In Portugal, the year-on-year drop was 1.7%.
According to the most recent Eurostat figures, released this Monday, industrial production prices in the Euro Zone fell 0.4% in March, compared to the immediately previous month February 2024. Looking at the year-on-year comparison (with March 2023), the drop was 7.8%.
With regard to the European Union, industrial production prices fell 0.5% in March compared to February and 7.6% compared to the same month last year. According to the European Union’s statistics office, in February 2024 there was a drop of 1.1% in the Euro Zone and 1% in the EU.
Looking at the different industrial segments, in March, in the Eurozone, industrial production prices increased (compared to February): 0.1% for intermediate goods, 0.1% for capital goods, 0.1% for durable consumer goods, 0.4% for non-durable consumer goods. Already in energy prices decreased by 1.8%. “In total industry, prices (excluding energy) increased by 0.2%”, says Eurostat.
With regard to Member States (for which data are available), the largest monthly declines in industrial production prices were recorded in Bulgaria (-3.4%), Denmark and Greece (both -2.3% ) and in Spain (-2.2%). In Portugal the fall was 0.3% in March, compared to 0.2% in February and 0.8% in January.
Increases were observed in Ireland and Sweden (both +0.9%), as well as in Germany and Croatia (both +0.2%).
Making an annual comparison, with the same period in 2023, in the Euro Zone industrial production prices decreased: 4.8% for intermediate goods and 20% for energy. On the other hand, they increased: 1.9% for capital goods, 1% for durable consumer goods and 0.9% for non-durable consumer goods. Excluding energy, in the space of a year, industrial prices fell by 1.3%, says Eurostat. As for countries, The biggest annual declines in industrial production prices were recorded in Slovakia (-24.6%), Ireland (-19.8%) and Belgium (-13.4%). In Portugal, the year-on-year drop was 1.7%.
Increases were seen in Luxembourg (+16.5%) and Malta (+0.7%).
Tags: Industrial production prices Euro Zone fall March compared Industry
