Industrial producer prices in the EU and the euro area decelerated dramatically in September, affected by the significant slowdown in the growth of energy prices, but in Croatia their growth accelerated strongly, according to an Eurostat report released on Friday.

In September, industrial producer prices in the EU increased by 1.5% from August, when they rose by 4.9%, and in the euro area they increased by 1.6%, after a 5% rise in August.

Industrial producer prices in the energy sector again increased the most, by 2.6% in the EU and 3.3% in the euro area. In August, they had jumped by nearly 12% in the EU and the euro area.

The prices of non-durable consumer goods went up by 1% in the EU and by nearly the same in the euro area, and the prices of capital and durable consumer goods increased by 0.4% in both areas.

The prices of intermediate products again increased the least, by 0.1% in both areas.

Industrial producer prices go down in eight countries

In September, Bulgaria and Slovakia recorded the largest increases in industrial producer prices, of 9.2% and 8.9% on the month, respectively.

In Croatia, industrial producer prices rose by 3% on the month in September, after increasing by 0.4.% in August.

Industrial producer prices fell in eight countries, with Ireland (-18.9%), Estonia (-3.9%), and Greece (-2.4%) recording the largest decreases.

Slower growth in energy sector

The annual growth of industrial producer prices in the EU and the euro area slightly decelerated in September, to 41.4% and 41.9% respectively.

In August, the prices had risen by 43.1% in the EU and by 43.4% in the euro area.

The largest annual increase was observed in the energy sector, where prices in September 2022 were approximately twice as high as in September 2021, but their growth also decelerated after the 115.7% rise in the EU and the 117.1% rise in the euro area in August.

The prices of intermediate goods were nearly a fifth higher than in September 2021, just like in August.

The prices of non-durable consumer goods also saw a two-digit increase, of 16.5% in the EU and of 15.2% in the euro area, followed by durable consumer goods, the prices of which rose by about 10% in both areas.

The prices of capital goods increased the least, by 7.9% in the EU and by 7.6% in the euro area.

Industrial producer prices in Croatia up by 30.2% y-o-y

In September 2022, industrial producer prices saw two-digit annual growth rates in all EU countries, except for Malta, where they went up by 9.4%.

Compared with September 2021, industrial consumer prices rose the most in Bulgaria (+78.2%), followed by Hungary (+67.5%) and Romania (+62.9%).

In Croatia, industrial producer prices rose by 30.2% in September 2022 compared with September 2021. In August, they had gone up by 30.5%.