September IPP up by 0.6% in the EU

In September 2023, industrial producer prices rose by 0.5% in the euro area and by 0.6% in the EU, compared with August 2023, according to estimates from Eurostat, the statistical office of the European Union. In August 2023, prices increased by 0.7% in the euro area and by 0.5% in the EU.

In September 2023, compared with September 2022, industrial producer prices decreased by 12.4% in the euro area and by 11.2% in the EU.

Monthly comparison

Industrial producer prices in the euro area in September 2023, compared with August 2023, increased by 2.2% in the energy sector, while prices remained stable for capital goods and for durable consumer goods, and prices decreased by 0.2% for both intermediate goods and non‑durable consumer goods. Prices in total industry excluding energy decreased by 0.1%.

In the EU, industrial producer prices increased by 2.1% in the energy sector and by 0.1% for capital goods, while prices remained stable for durable consumer goods, and prices decreased by 0.1% for intermediate goods and by 0.2% for non-durable consumer goods. Prices in total industry excluding energy decreased by 0.1%.

The biggest monthly increases in industrial producer prices were observed in Luxembourg (+28.5%), Romania (+2.6%) and Bulgaria (+2.1%), while the largest decreases were recorded in Finland (-0.9%), Cyprus and Poland (both -0.3%) and Germany (-0.2%).

Annual comparison

Industrial producer prices in the euro area in September 2023, compared with September 2022, decreased by 31.3% in the energy sector and by 4.8% for intermediate goods, while prices increased by 3.9% for capital goods, by 4.3% for durable consumer goods and by 5.5% for non-durable consumer goods.

Prices in total industry excluding energy increased by 0.5%.

In the EU, industrial producer prices decreased by 28.5% in the energy sector and by 4.7% for intermediate goods, while prices increased by 3.7% for durable consumer goods, by 3.8% for capital goods and by 5.4% for non-durable consumer goods. Prices in total industry excluding energy increased by 0.4%.

The largest annual decreases in industrial producer prices were recorded in Ireland (-38.9%), Bulgaria (-32.0%) and Italy (-18.3%). The highest annual increases were recorded in Luxembourg (+23.8%), Hungary (+7.1%) and Slovenia (+3.1%).