Business News 

Malta posts highest rise in industrial producer prices

4th August 2020

Prices in the energy sector were up 3.3 per cent in June over the previous month

Malta posted the highest increases in industrial producer prices within the EU in June when compared to the same month last year, according to Eurostat.

The figures show that, on the basis of an annual comparison, industrial producer prices rose by 1.5 per cent, followed by 0.7 per cent on Slovenia and 0.1 per cent in Luxembourg. The largest drops in such prices were observed in Lithuania (-7.8 per cent), Belgium (-7.5 per cent), Spain and Italy (both 6.1 per cent).

Eurostat reported that, in June, the fourth month to be marked by COVID-19 containment measures in most member states, industrial producer prices rose by 0.7 per cent in both the euro area and the EU when compared with May when the prices had decreased by 0.6 per cent in the euro area and by 0.5 per cent in the EU.

Comparing this June 2020 with June 2019, Eurostat recorded a drop of 3.7 per cent in the euro area and 3.4 per cent in the EU.

Industrial producer prices in the euro area in June, when compared with the previous month, increased by 3.1 per cent in the energy sector, by 0.2 per cent for intermediate goods and by 0.1 per cent for capital goods. They remained stable for durable consumer goods and decreased by 0.1 per cent for non-durable consumer goods.

Prices in total industry excluding energy remained stable.

In the EU, industrial producer prices increased by 3.3 per cent in the energy sector, by 0.1 per cent for both intermediate goods and capital goods, while prices remained stable for durable consumer goods and were down 0.1 per cent for non-durable consumer goods.

Prices in total industry excluding energy remained stable.

Comparing euro area industrial producer prices with June last year, Eurostat said they fell by 12.8 per cent in the energy sector and by 2.5 per cent for intermediate goods but increased by 0.6 per cent for non durable consumer goods, by 1.0 per cent for capital goods and by 1.2 per cent for durable consumer goods.

Prices in total industry excluding energy decreased by 0.6 per cent.

In the EU, industrial producer prices decreased by 11.8 per cent in the energy sector and by 2.4 per cent for intermediate goods. They rose by 0.9 per cent for non durable consumer goods, by 1.2 per cent for capital goods and by 1.4 per cent for durable consumer goods.

Prices in total industry excluding energy decreased by 0.4 per cent.


Malta posts highest rise in industrial producer prices