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International Internet Magazine. Baltic States news & analytics Saturday, 25.10.2014, 21:58

Latvia only one of two EU countries to see increase in producer prices in June

Nina Kolyako, BC, Riga, 02.08.2012.Print version
In June 2012, producer prices in Latvia increased by 0.3% from May, one of only two increases across the European Union, according to the latest data from the EU's statistical office Eurostat. Meanwhile, producer prices in Lithuania decreased by 0.6% when compared to May, while Estonia registered a 0.2% reduction.

Producer prices only increased in one other country – Cyprus (by 0.4%), reports LETA.

 

Producer prices in Malta and Slovenia in June remained the same as in the previous months, while all other EU members registered reductions in producer prices.

 

The largest decrease in producer prices was registered in Great Britain – 1.9%, Greece – 1.8% each, followed by Denmark – 1.3%.

 

In comparison with June 2011, producer prices grew 1.6% in the EU and 1.8% in the eurozone.

 

The largest year-on-year increase was registered in Cyprus – 8.8%, Hungary – 6.9%, and Lithuania – 4.9%.

 

Producer prices increased by 2.9% in Latvia when compared to June of the previous year, and by 2.8% in Estonia.

 

In June 2012 compared with June 2011 the total industrial producer price index in Lithuania increased by 4.9%. It is the third largest increase among the European Union Member states for which data are available, Eurostat said.

 

In June 2012, compared with May 2012, the industrial producer price index fell by 0.5% in the euro area (EA17) and by 0.8% in the EU272. In May prices decreased by 0.5% and 0.7% respectively. In June 2012 compared with June 2011, industrial producer prices gained 1.8% in the euro area and 1.6% in the EU27.

 

In June 2012, compared with the previous month, prices in total industry excluding the energy sector fell by 0.1% in both the euro area and the EU27. Prices in the energy sector decreased by 1.8% and 2.6% respectively. In both zones intermediate goods dropped by 0.3%, while durable consumer goods remained stable and capital goods and non-durable consumer goods increased by 0.1%.

 

In June 2012 compared with June 2011, prices in total industry excluding the energy sector increased by 0.9% in the euro area and by 1.2% in the EU27. Prices in the energy sector gained 4.8% and 3.0% respectively. Nondurable consumer goods rose by 1.9% in the euro area and by 2.3% in the EU27. Durable consumer goods increased by 1.9% in both zones. Capital goods gained 1.1% in the euro area and 1.4% in the EU27. Intermediate goods rose by 0.1% and 0.4% respectively.






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