Croatia was among the EU countries with the largest drop in industrial producer prices in December 2022, with energy price increases having caused price rises in the EU and euro area, shows a report by the EU's statistical office Eurostat, released on Friday.

Industrial producer prices in the EU rose in December 2022 by 1.2% compared to November, when they dropped by 0.9%.

In the euro area, industrial producer prices grew 1.1% from the previous month, when they dropped by 1%.

The latest data put an end to a two-month decline in industrial producer prices.

The reversal of the trend reflects price increases in the energy sector of 2.9% in the EU and 2.5% in the euro area as against November, when prices in the energy sector dropped by 2% and 2.4% respectively.

Without the energy sector, industrial producer prices were 0.1% lower than in November in both the EU and the euro area.

The strongest monthly growth of industrial producer prices, of 43.2%, was reported by Ireland, followed by Bulgaria and Sweden, with increases of 6% and 4.4% respectively.

Portugal recorded the largest monthly drop in industrial producer prices, of 3.2%, followed by Croatia and Slovakia, with decreases of 2.6% and 2.5% respectively.

In November 2022, industrial producer prices in Croatia were 1% higher than in October.

Year-on-year, industrial producer prices in December grew by 25.2% in the EU and by 24.6% in the euro area. In November they were 27.4% higher in the EU and by 27% in the euro area.

The energy sector saw the largest increase in producer prices, of 49.6% as against December 2021 in the EU and of 48.6% in the euro area.

In November, producer prices in the energy sector grew by more than 56% in both the EU and the euro area.

December saw a significant increase in prices of non-durable consumer goods as well, of 16.7% in the EU and of 15.6% in the euro area, slightly less than in November.

Not including the energy sector, industrial producer prices were 12.8% up from December 2021 in the EU and 12.3% up in the euro area.

Year-on-year, industrial producer prices grew in all EU members, and Hungary saw the strongest growth, of 62.7%.

It is followed by Latvia and Romania, with price rises of 49.4% and 41.9% respectively.

In Croatia industrial producer prices in December 2022 were 20% up from December 2021, and in November they were 24.2% higher year-on-year.

Year-on-year industrial producer prices grew the least in Portugal, by 6.7%, followed by Malta, with a 7.9% rise.