Eurozone’s industrial producer prices climb in January

By Mucahithan Avcioglu

ISTANBUL (AA) - The eurozone’s industrial producer prices climbed 0.8% on a monthly basis in January, Eurostat said Wednesday.

The rise accelerated the previous month's upwardly revised 0.5% increase in industrial prices in the eurozone.

The figure was also above market forecasts of a 0.3% rise in January.

The industrial producer prices for energy rose 1.7%, durable consumer goods 0.6%, and non-durable consumer goods 0.2%, while the industrial producer prices for intermediate goods grew 0.3%, and capital goods 0.7% in the eurozone.

In the EU, the industrial producer prices also climbed 0.8% month-on-month in January.

The EU’s industrial producer prices for energy increased 1.8%, durable consumer goods 0.6%, and non-durable consumer goods 0.2%, while intermediate goods rose 0.3%, and capital goods 0.6% in January

Ireland and Bulgaria had the highest monthly industrial producer price hikes among EU member states with 6.2% and 5.4%, respectively.

Meanwhile, Portugal saw the largest monthly drop at 2.2%, with Austria following behind at a 0.6% and Slovenia with a 0.5% fall.

On a yearly basis, both the eurozone’s and the EU’s industrial prices rose 1.8% in January.

The eurozone/euro area, or EA20, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.