Industrial producer prices down by 0.4% in the euro area and by 0.5% in the EU (2024)

Euro indicators 6 May 2024 Next release: 5 June 2024

March 2024 compared with February 2024

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Down by 7.8% in the euro area and by 7.6% in the EU compared with March 2023

Overview

In March 2024, compared with February 2024, industrial producer prices decreased by 0.4% in the euro area and by 0.5% in the EU, according to first estimates from Eurostat, the statistical office of the European Union. In February 2024, industrial producer prices fell by 1.1% in the euro area and by 1.0% in the EU.

In March 2024, compared with March 2023, industrial producer prices decreased by 7.8% the euro area and by 7.6% in the EU.

Industrial producer prices down by 0.4% in the euro area and by 0.5% in the EU (1)

Monthly comparison by main industrial grouping and by Member State

In the euro area in March 2024, compared with February 2024, industrial producer prices

  • increased by 0.1% for intermediate goods,

  • decreased by 1.8% for energy,

  • increased by 0.1% for capital goods,

  • increased by 0.1% for durable consumer goods,

  • increased by 0.4% for non-durable consumer goods.

Prices in total industry excluding energy increased by 0.2%.

In the EU, industrial producer prices

  • increased by 0.2% for intermediate goods,

  • decreased by 2.0% for energy,

  • increased by 0.1% for capital goods,

  • increased by 0.2% for durable consumer goods,

  • increased by 0.4% for non-durable consumer goods.

Prices in total industry excluding energy increased by 0.2%.

Among Member States for which data are available, the largest monthly decreases in industrial producer prices were recorded in Bulgaria (-3.4%), Denmark and Greece (both -2.3%) and Spain (-2.2%). Increases were observed in Ireland and Sweden (both +0.9%) as well as in Germany and Croatia (both +0.2%).

Annual comparison by main industrial grouping and by Member State

In the euro area in March 2024, compared with March 2023, industrial producer prices

  • decreased by 4.8% for intermediate goods,

  • decreased by 20.0% for energy,

  • increased by 1.9% for capital goods,

  • increased by 1.0% for durable consumer goods,

  • increased by 0.9% for non-durable consumer goods.

Prices in total industry excluding energy decreased by 1.3%.

In the EU, industrial producer prices

  • decreased by 5.0% for intermediate goods,

  • decreased by 18.6% for energy,

  • increased by 1.8% for capital goods,

  • increased by 0.3% for durable consumer goods,

  • increased by 0.6% for non-durable consumer goods.

Prices in total industry excluding energy decreased by 1.5%.

Among Member States for which data are available, the largest annual decreases in industrial producer prices were recorded in Slovakia (-24.6%), Ireland (-19.8%) and Belgium (-13.4%). Increases were observed in Luxembourg (+16.5%) and Malta (+0.7%).

Tables

Industrial producer prices on the domestic market

% change compared with previous month

Oct-23

Nov-23

Dec-23

Jan-24

Feb-24

Mar-24

Euro area

Total industry

0.2

-0.5

-0.7

-0.9

-1.1

-0.4

Total industry excluding energy

-0.1

-0.2

-0.1

0.3

0.1

0.2

Intermediate goods

-0.3

-0.4

-0.2

-0.1

0.0

0.1

Energy

1.0

-1.1

-2.0

-3.1

-3.6

-1.8

Capital goods

0.0

0.0

0.0

0.6

0.2

0.1

Durable consumer goods

0.1

-0.1

0.0

-0.1

0.4

0.1

Non-durable consumer goods

-0.1

-0.1

0.1

0.3

0.1

0.4

EU

Total industry

0.1

-0.3

-0.7

-0.9

-1.0

-0.5

Total industry excluding energy

-0.1

-0.3

-0.1

0.3

0.1

0.2

Intermediate goods

-0.3

-0.3

-0.3

-0.1

0.0

0.2

Energy

0.6

-0.6

-2.0

-2.7

-3.3

-2.0

Capital goods

0.1

-0.1

0.1

0.5

0.3

0.1

Durable consumer goods

0.1

-0.1

0.0

-0.2

0.3

0.2

Non-durable consumer goods

-0.1

0.0

0.0

0.2

0.2

0.4

Source dataset: sts_inppd_m

Industrial producer prices down by 0.4% in the euro area and by 0.5% in the EU (2)

Industrial producer prices on the domestic market

% change compared with previous month

Oct-23

Nov-23

Dec-23

Jan-24

Feb-24

Mar-24

Euro area

0.2

-0.5

-0.7

-0.9

-1.1

-0.4

EU

0.1

-0.3

-0.7

-0.9

-1.0

-0.5

Belgium

-0.4

0.2

0.5

-1.4

1.4

-1.0

Bulgaria

-0.6

0.6

-0.4

-1.8

-1.5

-3.4

Czechia

-0.1

-0.4

-0.5

2.4

0.5

0.0

Denmark

-1.0

0.6

-0.8

0.1

-2.8

-2.3

Germany

-0.3

-0.5

-0.9

0.2

-0.4

0.2

Estonia

-1.3

0.1

-1.4

5.3

-7.2

-0.9

Ireland

5.0

-1.0

-12.0

4.0

-4.2

0.9

Greece

-1.9

0.3

1.1

0.7

-1.6

-2.3

Spain

-1.4

-2.2

-0.3

0.2

-2.6

-2.2

France

-0.3

2.3

-0.1

-1.1

-1.7

-0.2

Croatia

-1.1

0.1

-0.6

-0.9

0.1

0.2

Italy

2.2

-1.5

-1.2

-2.5

-1.5

-0.4

Cyprus

-0.1

-0.5

0.1

-1.6

0.0

-0.8

Latvia

-3.1

0.1

-1.5

1.2

-3.0

-1.1

Lithuania

-0.8

-2.1

-1.2

6.5

-3.3

-1.9

Luxembourg

-4.6

-0.3

0.3

-0.8

0.8

-0.4

Hungary

-0.6

-0.8

-0.7

-1.2

0.7

-0.3

Malta

-0.1

0.2

-0.1

0.3

0.0

0.0

Netherlands

-0.1

0.0

-1.6

-0.6

-0.1

0.0

Austria

-0.1

0.4

-0.9

-2.2

-0.9

-1.3

Poland

0.0

-0.7

-1.2

-3.0

0.3

-0.3

Portugal

-0.1

-1.1

-0.3

0.8

0.2

-0.3

Romania

0.7

0.7

-0.6

-0.4

c

c

Slovenia

-0.3

-0.5

-0.4

-0.2

-1.1

-0.1

Slovakia

0.4

-2.9

-0.3

-14.3

-5.6

-0.5

Finland

-0.3

0.3

-0.3

0.7

-0.8

-0.4

Sweden

0.1

4.0

-0.5

1.1

-1.3

0.9

Norway

1.6

2.4

-1.3

0.4

-0.7

1.2

Switzerland

0.1

-0.4

-0.3

0.4

0.2

0.1

c Confidential

Source dataset: sts_inppd_m

Industrial producer prices down by 0.4% in the euro area and by 0.5% in the EU (3)

Industrial producer prices on the domestic market

% change compared with same month of previous year

Oct-23

Nov-23

Dec-23

Jan-24

Feb-24

Mar-24

Euro area

Total industry

-8.3

-8.1

-9.6

-8.1

-8.5

-7.8

Total industry excluding energy

0.1

-0.2

-0.3

-1.2

-1.3

-1.3

Intermediate goods

-4.9

-4.9

-4.6

-5.4

-5.3

-4.8

Energy

-22.3

-22.0

-25.3

-20.1

-21.3

-20.0

Capital goods

3.6

3.2

3.0

2.2

2.0

1.9

Durable consumer goods

3.6

3.3

2.9

1.2

1.2

1.0

Non-durable consumer goods

4.4

3.6

3.2

2.0

1.3

0.9

EU

Total industry

-7.7

-7.4

-9.0

-7.9

-8.2

-7.6

Total industry excluding energy

-0.1

-0.4

-0.5

-1.3

-1.5

-1.5

Intermediate goods

-5.0

-5.0

-4.8

-5.7

-5.5

-5.0

Energy

-20.1

-19.5

-23.3

-19.1

-19.8

-18.6

Capital goods

3.4

3.0

2.8

2.0

1.9

1.8

Durable consumer goods

2.7

2.4

2.1

0.6

0.4

0.3

Non-durable consumer goods

4.2

3.5

3.0

1.6

1.1

0.6

Source dataset: sts_inppd_m

Industrial producer prices down by 0.4% in the euro area and by 0.5% in the EU (4)

Industrial producer prices on the domestic market

% change compared with same month of previous year

Oct-23

Nov-23

Dec-23

Jan-24

Feb-24

Mar-24

Euro area

-8.3

-8.1

-9.6

-8.1

-8.5

-7.8

EU

-7.7

-7.4

-9.0

-7.9

-8.2

-7.6

Belgium

-20.5

-18.7

-18.5

-17.1

-13.3

-13.4

Bulgaria

-25.9

-14.6

-19.8

-17.8

-12.1

-12.8

Czechia

0.2

0.9

1.4

-1.9

-1.0

0.0

Denmark

-4.1

-3.2

-6.3

-4.0

-5.9

-6.9

Germany

-7.4

-5.0

-5.2

-4.5

-4.1

-2.9

Estonia

-6.3

-7.4

-9.5

-0.6

-7.7

-7.7

Ireland

-5.0

-8.0

-43.5

-21.5

-24.2

-19.8

Greece

-14.7

-9.0

-7.3

-7.9

-6.3

-1.3

Spain

-7.7

-7.5

-6.3

-4.0

-8.6

-8.2

France

-1.5

0.1

-1.3

-4.9

-5.5

-7.5

Croatia

-0.5

-1.5

0.6

-1.1

-1.7

-2.0

Italy

-12.4

-16.5

-20.5

-14.0

-14.2

-12.7

Cyprus

-1.8

-1.2

-1.3

-3.6

-3.7

-4.3

Latvia

-14.6

-15.4

-18.7

-11.9

-13.6

-12.1

Lithuania

-10.0

-10.1

-8.9

-2.7

-6.3

-5.4

Luxembourg

17.4

20.1

19.9

16.5

17.2

16.5

Hungary

0.2

-1.9

-3.6

-7.8

-5.9

-5.4

Malta

0.9

0.8

0.7

0.8

0.7

0.7

Netherlands

-6.4

-5.6

-7.8

-10.1

-10.3

-8.4

Austria

-6.1

-4.3

-5.2

-11.7

-10.5

-10.3

Poland

-3.4

-3.8

-6.0

-11.0

-10.0

-9.9

Portugal

-4.0

-5.8

-4.3

-1.9

-2.6

-1.7

Romania

-5.7

-5.8

-7.1

-8.0

c

c

Slovenia

2.5

2.9

1.9

0.3

-3.4

-3.7

Slovakia

1.0

10.8

13.3

-12.1

-25.5

-24.6

Finland

-6.9

-7.5

-8.5

-4.5

-4.5

-4.3

Sweden

-7.1

-5.9

-10.4

-1.4

-1.5

-0.4

Norway

4.3

4.9

1.6

4.2

2.6

2.8

Switzerland

3.5

3.0

2.9

2.3

1.9

1.6

c Confidential

Source dataset: sts_inppd_m

Industrial producer prices down by 0.4% in the euro area and by 0.5% in the EU (5)

Industrial producer prices indices on the domestic market for total industry
(base year 2021)

Oct-23

Nov-23

Dec-23

Jan-24

Feb-24

Mar-24

Euro area

129.1

128.5

127.6

126.4

125.0

124.5

EU

130.2

129.8

128.9

127.8

126.5

125.9

Belgium

124.8

125.1

125.7

123.9

125.6

124.4

Bulgaria

125.7

126.5

126.0

123.7

121.8

117.7

Czechia

129.7

129.2

128.6

131.7

132.4

132.4

Denmark

144.3

145.2

144.0

144.1

140.1

136.9

Germany

130.1

129.4

128.3

128.5

128.0

128.2

Estonia

132.9

133.0

131.1

138.0

128.0

126.9

Ireland

101.6

100.6

88.5

92.0

88.1

88.9

Greece

123.4

123.8

125.1

126.0

124.0

121.2

Spain

129.3

126.5

126.1

126.3

123.0

120.3

France

128.7

131.7

131.6

130.2

128.0

127.7

Croatia

134.2

134.3

133.5

132.3

132.4

132.7

Italy

130.2

128.3

126.8

123.6

121.8

121.3

Cyprus

127.1

126.5

126.6

124.6

124.6

123.6

Latvia

146.1

146.2

144.0

145.7

141.4

139.8

Lithuania

141.0

138.1

136.5

145.4

140.6

137.9

Luxembourg

156.4

155.9

156.4

155.2

156.4

155.8

Hungary

184.4

183.0

181.8

179.7

180.9

180.3

Malta

108.5

108.7

108.6

108.9

108.9

108.9

Netherlands

125.4

125.4

123.4

122.6

122.5

122.5

Austria

127.0

127.5

126.4

123.6

122.5

120.9

Poland

131.4

130.5

128.9

125.0

125.4

125.0

Portugal

118.4

117.1

116.8

117.7

117.9

117.5

Romania

161.5

162.7

161.7

161.1

c

c

Slovenia

133.0

132.4

131.9

131.7

130.2

130.1

Slovakia

169.5

164.5

164.0

140.5

132.7

132.1

Finland

118.8

119.1

118.8

119.6

118.6

118.1

Sweden

113.8

118.4

117.8

119.1

117.6

118.6

Norway

135.7

138.9

137.1

137.7

136.7

138.3

Switzerland

112.5

112.1

111.8

112.3

112.5

112.6

c Confidential

Source dataset: sts_inppd_m

Industrial producer prices down by 0.4% in the euro area and by 0.5% in the EU (6)

Industrial producer prices indices on the domestic market for total industry

excluding energy (base year 2021)

Oct-23

Nov-23

Dec-23

Jan-24

Feb-24

Mar-24

Euro area

117.4

117.2

117.1

117.4

117.5

117.7

EU

117.8

117.5

117.4

117.7

117.8

118.0

Belgium

121.9

121.8

121.2

121.3

122.8

122.8

Bulgaria

128.0

128.0

128.3

128.4

128.9

129.2

Czechia

119.1

118.8

118.5

119.2

119.8

120.3

Denmark

117.4

117.4

117.3

117.3

117.3

117.9

Germany

118.1

117.9

118.0

118.3

118.3

118.6

Estonia

119.5

119.1

119.0

119.0

118.8

118.9

Ireland

109.7

109.3

109.4

108.7

111.7

111.9

Greece

112.2

112.2

112.4

112.7

112.8

112.8

Spain

117.5

117.4

117.4

118.0

118.1

118.4

France

117.0

116.7

116.5

116.7

116.7

116.9

Croatia

115.6

115.3

115.1

115.6

115.4

116.0

Italy

114.7

114.5

114.4

114.3

114.1

114.2

Cyprus

119.3

119.1

119.4

119.5

119.5

119.5

Latvia

128.2

127.0

126.7

127.0

127.3

127.2

Lithuania

126.7

126.4

125.9

125.2

125.1

124.0

Luxembourg

107.2

106.8

107.5

107.7

108.6

108.2

Hungary

139.5

138.7

139.2

139.9

140.8

141.5

Malta

118.8

119.0

119.0

119.6

119.6

119.6

Netherlands

118.9

118.5

117.9

118.8

119.2

119.7

Austria

114.7

114.5

114.5

115.3

115.6

116.0

Poland

117.3

116.7

116.0

115.0

114.8

115.0

Portugal

120.0

119.9

120.2

121.2

121.3

121.3

Romania

124.9

125.1

125.2

126.0

c

c

Slovenia

124.4

124.5

124.1

123.7

123.7

123.6

Slovakia

118.4

117.8

116.3

118.0

117.1

117.4

Finland

116.9

116.9

116.8

116.6

116.7

117.1

Sweden

120.8

120.7

120.2

121.0

121.7

122.1

Norway

126.1

127.7

127.4

128.4

129.2

129.2

Switzerland

108.0

107.8

107.9

108.0

108.0

108.0

c Confidential

Source dataset: sts_inppd_m

Industrial producer prices down by 0.4% in the euro area and by 0.5% in the EU (7)

Notes for users

Revisions and timetable

Compared with data issued in the News Release of 4 April 2024, the monthly percentage decrease for February 2024 has been revised from -1.0% to -1.1% in the euro area and from -0.9% to -1.0% in the EU. The annual percentage decrease has been revised from -8.3% to -8.5% in the euro area and from -8.1% to -8.2% in the EU.

Methods and definitions

The index of producer prices shows (in the national currency of the country concerned) changes in the ex-works sale prices of all products sold on the domestic market, excluding imports. Euro area and EU indices refer to overall weighted price changes. The figures are not calendar day or seasonally adjusted.

Total industry covers NACE rev.2 sections B to D + E36.

Starting with reference period January 2024, the base year of the data has been changed to 2021, since 2018 the base year had been 2015. More information on the reasons for and impact of the base year change can be found in the related Statistics Explained article.

Geographical information

The euro area (EA20) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

The European Union (EU27) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.

For more information

  • Eurostat database section on short-term business statistics

  • Statistics Explained article on the industrial producer price index

  • The weights of the Member States in the EU and euro area aggregates
    (See file Base year 2021 weights - Euro indicators releases)

  • Euro indicators dashboard

  • Release calendar for Euro indicators

  • European Statistics Code of Practice

Get in touch

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E-mail: eurostat-mediasupport@ec.europa.eu

Further information on data

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'; /** Retrieve the order from the tooltip option */ var sortOrder = option.tooltip.order; /** Sort the 'params' array based on the 'sortOrder' parameter. */ switch (sortOrder) { /** Sort by series name in ascending order. */ case 'seriesAsc': params = params.sort((a, b) => a.seriesName.localeCompare(b.seriesName)); break; /** Sort by series name in descending order. */ case 'seriesDesc': params = params.sort((a, b) => b.seriesName.localeCompare(a.seriesName)); break; /** Sort by numerical value in ascending order. */ case 'valueAsc': params = params.sort((a, b) => parseFloat(a.value) - parseFloat(b.value)); break; /** Sort by numerical value in descending order. */ case 'valueDesc': params = params.sort((a, b) => parseFloat(b.value) - parseFloat(a.value)); break; /** Reverse the current order. */ case 'reverse': params.reverse(); break; default: break; } /** Iterate over each series in the tooltip parameters */ for (var i = 0; i < params.length; i++) { /** Retrieve the name and value of the current series */ var seriesName = params[i].seriesName; var value = params[i].value; /** Replace every specific apostrphe by simple one. */ seriesName = seriesName.replaceAll("’", "'"); /** Convert the numeric value to its string representation. */ var strValue = String(value); /** Retrieve the axis used as value */ var axis = option.yAxis.type === 'value' ? option.yAxis : option.xAxis; /** Initialize the number of decimal places */ var decimals = option.tooltip.decimals; /** Check if decimals configuration is set to default and the value contains decimal places */ if (!decimals && strValue.indexOf('.') > -1) { /** Calculate the number of decimal places */ decimals = strValue.substring(strValue.indexOf('.'), strValue.length - 1).length; } else { /** If there are no decimal places, format the value with 1 decimal place */ decimals = decimals ? decimals : 1; /** Convert the value to a fixed-point notation string with a specified number of decimal places. */ value = Number(value).toFixed(decimals); } /** Convert -0 value to 0 with the specified or calculated number of decimal places.*/ if (Number(value) == -0) { value = (Number(value) + 0).toFixed(decimals); } /** Extract the unit from within the axis label */ var unit = axis.axisLabel.unit ? axis.axisLabel.unit : ''; /** Format the value using the appropriate number of decimal places */ value = isNaN(value) ? 'N/A' : Number(value).toLocaleString(option.lang ? option.lang : 'en', { minimumFractionDigits: decimals }) + unit; /** Retrieve the color of the current series */ const color = params[i].color; /** * Add the series name and value to the tooltip content * Use a circle icon with the series color */ tooltipContent += '

' + '' + '' + '' + seriesName + '' + '' + '' + value + '' + '

'; } /** Close the tooltip content container */ tooltipContent += '

'; /** Return the formatted tooltip content */ return tooltipContent; }}/* * This content is licensed according to the W3C Software License at * https://www.w3.org/Consortium/Legal/2015/copyright-software-and-document * * File: sortable-table.js * * Desc: Adds sorting to a HTML data table that implements ARIA Authoring Practices */'use strict';class SortableTable { constructor(tableNode) { this.tableNode = tableNode; this.columnHeaders = tableNode.querySelectorAll('thead th.sortable'); this.sortColumns = []; for (var i = 0; i < this.columnHeaders.length; i++) { var ch = this.columnHeaders[i]; var buttonNode = ch.querySelector('button'); if (buttonNode) { this.sortColumns.push(i); // buttonNode.setAttribute('data-column-index', i); // buttonNode.addEventListener('click', this.handleClick.bind(this)); ch.setAttribute('data-column-index', i); ch.addEventListener('click', this.handleClick.bind(this)); } } this.optionCheckbox = document.querySelector( 'input[type="checkbox"][value="show-unsorted-icon"]' ); if (this.optionCheckbox) { this.optionCheckbox.addEventListener( 'change', this.handleOptionChange.bind(this) ); if (this.optionCheckbox.checked) { this.tableNode.classList.add('show-unsorted-icon'); } } } setColumnHeaderSort(columnIndex) { if (typeof columnIndex === 'string') { columnIndex = parseInt(columnIndex); } for (var i = 0; i < this.columnHeaders.length; i++) { var ch = this.columnHeaders[i]; var buttonNode = ch.querySelector('button'); if (i === columnIndex) { var value = ch.getAttribute('aria-sort'); if (value === 'ascending') { ch.setAttribute('aria-sort', 'descending'); this.sortColumn( columnIndex, 'descending', ch.classList.contains('num')); } else if (value === 'descending') { ch.removeAttribute('aria-sort'); this.sortColumn( columnIndex, 'initial', true ); } else { ch.setAttribute('aria-sort', 'ascending'); this.sortColumn( columnIndex, 'ascending', ch.classList.contains('num') ); } } else { if (ch.hasAttribute('aria-sort') && buttonNode) { ch.removeAttribute('aria-sort'); } } } } sortColumn(columnIndex, sortValue, isNumber) { function compareValues(a, b) { if (a.value === b.value) return 0; if (sortValue === 'descending') { return isNumber ? b.value - a.value : (a.value > b.value ? -1 : 1); } else { return isNumber ? a.value - b.value : (a.value < b.value ? -1 : 1); } } if (typeof isNumber !== 'boolean') { isNumber = false; } var tbodyNode = this.tableNode.querySelector('tbody'); var rowNodes = []; var dataCells = []; var rowNode = tbodyNode.firstElementChild; var index = 0; while (rowNode) { rowNodes.push(rowNode); var rowCells = rowNode.querySelectorAll('th, td'); var dataCell = rowCells[columnIndex]; var data = {}; data.index = index; if (sortValue !== 'initial') { data.value = dataCell.textContent.toLowerCase().trim(); } else { data.value = rowNode.getAttribute('initial-position').toLowerCase().trim(); } if (isNumber) { data.value = parseFloat(data.value); } dataCells.push(data); rowNode = rowNode.nextElementSibling; index += 1; } dataCells.sort(compareValues); // remove rows while (tbodyNode.firstChild) { tbodyNode.removeChild(tbodyNode.lastChild); } // add sorted rows for (var i = 0; i < dataCells.length; i += 1) { let pos = [dataCells[i].index]; if (sortValue === "initial") { rowNodes[pos].classList.remove("sorted"); } else { rowNodes[pos].classList.add("sorted"); } tbodyNode.appendChild(rowNodes[pos]); } } /* EVENT HANDLERS */ handleClick(event) { var tgt = event.currentTarget; this.setColumnHeaderSort(tgt.getAttribute('data-column-index')); } handleOptionChange(event) { var tgt = event.currentTarget; if (tgt.checked) { this.tableNode.classList.add('show-unsorted-icon'); } else { this.tableNode.classList.remove('show-unsorted-icon'); } }}$(document).ready(function() { load(); });;}());

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