Industrial producer prices in the euro zone rose 11.1% year on year in September, while prices in the EU increased 10.9%, driven mainly by energy, the EU statistics office Eurostat said. The increases were the first double-digit annual rises in both areas since February 2023.
On a monthly basis, industrial producer prices rose 2.5% in the euro zone and 2.6% in the EU. The gains accelerated from revised increases of 2% and 1.9%, respectively, in August, according to Eurostat data.
Energy prices led the monthly move, climbing 7.8% in the euro zone and 7.9% in the EU in September. They had risen 5.6% in both areas in August, based on revised figures. The September increases in energy were much larger than those in other industrial product groups.
Excluding energy, producer prices rose 0.1% in the euro zone and 0.2% in the EU during September. That compared with revised monthly increases of 0.3% in the euro zone and 0.2% in the EU in August.
Prices of durable consumer goods increased 0.3% in the euro zone and 0.2% in the EU in September. Intermediate goods and non-durable consumer goods each rose 0.2% in both areas, while capital goods prices increased 0.1% in the euro zone and the EU.
The annual increase in energy prices reached 30.8% in the euro zone in September, up from 21% in August. In the EU, energy prices rose 3% year on year, compared with a 20.7% increase in August. Intermediate goods prices increased 7.1% in the euro zone and 6.8% in the EU.
Annual prices for durable consumer goods rose 3.4% in the euro zone and 3.2% in the EU, unchanged from the previous month. Capital goods prices increased 2.7% and 2.6%, respectively, at a slightly faster pace than in August. Non-durable consumer goods were the only category to record an annual decline, falling 0.6% in both areas after a 0.7% drop in August.
Without energy, annual industrial producer prices rose 3.5% in both the euro zone and the EU. In August, the increases were 3.4% in the euro zone and 3.3% in the EU.
Among EU countries, Bulgaria recorded the largest monthly increase in September, at 4.6%, followed by Lithuania at 4.2%. Prices rose 3.9% in Greece and Spain, and 3.1% in Croatia and Romania. Luxembourg and Malta recorded no monthly change.
