Industrial producer prices rise in Cyprus in April, according to Eurostat

In April 2023, industrial producer prices increased by 0.1% in Cyprus compared to March 2023, and fell by 3.2% in the euro area and by 2.9% in the EU, according to estimates released by Eurostat, the statistical service of the EU.

In March 2023, prices had decreased by 0.3% in Cyprus and by 1.3% in both the euro area and the EU compared to February.

However, compared with April 2022, industrial producer prices increased in April 2023 by 12.9% in Cyprus, by 1.0% in the euro area and by 2.3% in the EU.

Industrial producer prices in the euro area in April 2023, compared with March 2023, decreased by 10.1% in the energy sector and by 0.6% for intermediate goods, while prices increased by 0.2% for durable consumer goods, by 0.3% for non-durable consumer goods and by 0.4% for capital goods. Prices in total industry excluding energy decreased by 0.1%.

In the EU, industrial producer prices decreased by 8.9% in the energy sector and by 0.6% for intermediate goods, while prices increased by 0.1% for durable consumer goods and by 0.4% for both capital goods and non-durable consumer goods. Prices in total industry excluding energy decreased by 0.2%.

The largest monthly decreases in industrial producer prices were recorded in Belgium (-9.1%), Italy (-6.5%) and Ireland (-6.3%), while increases were observed in Germany (+0.3%), Denmark (+0.2%) as well as Greece, Cyprus, Malta and Slovenia (all +0.1%).

Industrial producer prices in the euro area in April 2023, compared with April 2022, increased by 10.9% for non-durable consumer goods, by 7.3% for durable consumer goods, by 6.1% for capital goods and by 1.3% for intermediate goods, while prices decreased by 8.9% in the energy sector. Prices in total industry excluding energy increased by 5.1%.

In the EU, industrial producer prices increased by 11.3% for non-durable consumer goods, by 7.0% for durable consumer goods, by 6.1% for capital goods and by 1.5% for intermediate goods, while prices decreased by 5.6% in the energy sector. Prices in total industry excluding energy increased by 5.3%.

The highest annual increases in industrial producer prices were recorded in Hungary (+41.7%), Latvia (+22.7%) and Slovakia (+18.2%). The largest decreases were observed in Ireland (-21.4%), Greece (-13.1%) and Belgium (-6.8%).

(Source: CNA)