London, Monday, 4 July 2022
According to the EU's statistical agency, industrial producer prices increased 36.4 percent and 36.3 percent, respectively, in the euro area and the EU on Monday.
According to a statement from Eurostat, prices rose 0.7 percent in the euro zone and 0.8 percent across the 27-member EU on a monthly basis.
Once again, the increase in prices—which nearly quadrupled in both zones compared to a year ago—was primarily driven by the cost of energy.
According to the report, industrial producer prices in the euro area rose by 94.4 percent in the energy sector, 25.0 percent for intermediate goods, 12.3 percent for non-durable consumer goods, 9.1 percent for durable consumer goods, and 7.5 percent for capital goods in May 2022 compared to May 2021.
The overall industrial price index, excluding energy, increased by 16.0%, according to Eurostat.
(Report by: The Decision Maker - Finance editors)