In May 2023, industrial producer prices fell by 1.9% in the euro area and by 1.8% in the EU, compared with April 2023, according to estimates from Eurostat, the statistical office of the European Union. In April 2023, prices decreased by 3.2% in the euro area and by 3.1% the EU.

In May 2023, compared with May 2022, industrial producer prices decreased by 1.5% in the euro area and by 0.5% in the EU.

Monthly comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in May 2023, compared with April 2023, decreased by 5.0% in the energy sector, by 1.0% for intermediate goods and by 0.1% for non-durable consumer goods, while prices remained stable for capital goods and increased by 0.3% for durable consumer goods. Prices in total industry excluding energy decreased by 0.4%.

In the EU, industrial producer prices decreased by 5.0% in the energy sector, by 1.1% for intermediate goods and by 0.2% for non-durable consumer goods, while prices remained stable for capital goods and increased by 0.2% for durable consumer goods. Prices in total industry excluding energy decreased by 0.5%.

The largest monthly decreases in industrial producer prices were recorded in Ireland (-7.4%), Italy (-3.1%) and Finland (-3.0%), while increases were observed in Cyprus (+2.8%), and Malta (+0.4%).

Annual comparison by main industrial grouping and by Member State

Industrial producer prices in the euro area in May 2023, compared with May 2022, decreased by 13.3% in the energy sector and by 1.5% for intermediate goods, 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. Prices in total industry excluding energy increased by 3.4%.

In the EU, industrial producer prices decreased by 10.4% in the energy sector and by 1.3% for intermediate goods, while prices increased by 5.5% for capital goods, by 6.5% for durable consumer goods and by 9.8% for non-durable consumer goods. Prices in total industry excluding energy increased by 3.5%.

The largest annual decreases in industrial producer prices were recorded in Greece (-10.6%), Ireland (-9.7%) and Belgium (-9.6%). The highest increases were observed in Hungary (+36.3%), Slovakia (+21.0%) and Latvia (+12.0%).