Tuba Onğun
05 July 2023•Update: 05 July 2023
ANKARA
Industrial producer prices in the euro area in May posted its first decline since 2020, according to official data released on Wednesday.
Annual producer prices dove 1.5% from a year ago, following a 0.9% hike in April, Eurostat said.
The deflation was driven by declining energy prices, plunging 13.3% from the prior year in May.
Prices for intermediate goods fell 1.5%, while prices increased by 5.6% for capital goods, by 6.7% for durable consumer goods and by 9.6% for non-durable consumer goods.
The largest annual hikes in industrial producer prices were seen in Hungary (36.3%), Slovakia (21.0%) and Latvia (12.0%).
The largest decreases were registered in Greece (10.6%), Ireland (9.7%) and Belgium (-9.6%).
On a monthly basis, industrial producer prices fell for the fifth month in a row, down 1.9% in May.
