June industrial producer prices up in Cyprus, down in EU

In June 2023, industrial producer prices in Cyprus increased by 0.1% compared with May 2023, while decreasing by 0.4% in both the Eurozone and the EU, according to estimates from Eurostat.

Compared to June 2022, industrial producer prices in Cyprus increased by 4.7%, while dropping by 3.4% in the Eurozone and by 2.4% in the EU during the same period.

In May 2023, prices in Cyprus had increased by 0.3%, and had decreased by 1.9% in both the Eurozone and the EU.

Industrial producer prices in the Eurozone in June 2023, compared with May 2023, decreased by 0.7% for intermediate goods and by 0.5% in the energy sector, while prices remained stable for durable consumer goods and for non-durable consumer goods, and prices increased by 0.1% for capital goods. Prices in total industry excluding energy decreased by 0.3%.

In the EU, industrial producer prices decreased by 0.8% for intermediate goods, by 0.4% in the energy sector, and by 0.1 for durable consumer goods and for non-durable consumer goods, while prices increased by 0.1% for capital goods. Prices in total industry excluding energy decreased by 0.4%.

The largest monthly decreases in industrial producer prices were recorded in Hungary (-2.5%), Bulgaria and Latvia (both -2.4%) and Belgium (-2.2%), while the highest increases were observed in Ireland (+4.0), Croatia (+1.3%) and Sweden (+1.2%).

Compared with June 2022, industrial producer prices in the Eurozone decreased in June 2023 by 16.5% in the energy sector, by 2.7% for intermediate goods, while prices increased by 5.2% for capital goods, by 5.9% for durable consumer goods and by 8.9% for non-durable consumer goods. Prices in total industry excluding energy increased by 2.5%.

In the EU, industrial producer prices decreased by 14.0% in the energy sector and by 2.7% for intermediate goods, while prices increased by 5.1% for capital goods, by 5.5% for durable consumer goods and by 9.0% for non-durable consumer goods. Prices in total industry excluding energy increased by 2.6%.

The largest annual decreases in industrial producer prices were recorded in Ireland (-17.1%), Belgium (-12.4%) and Bulgaria (-11.4%), while the highest increases were observed in Hungary (+29.5), Slovakia (+18.2%) and Slovenia (+7.4%).