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Cyprus’ industrial producer prices increase

Industrial producer prices in Cyprus increased by 0.8% in July 2017 compared with June 2017 and by 3.4% compared to July 2016, according to Eurostat, the statistical office of the European Union, while in the euro area (EA19) remained stable and in the EU28 increased by 0.1% in monthly basis.

In June 2017 prices decreased by 0.2% in the euro area and by 0.3% in the EU28. In July 2017, compared with July 2016, industrial producer prices rose by 2.0% in the euro area and by 2.3% in the EU28.

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Industrial producer prices in total industry remained stable in the euro area in July 2017, compared with June 2017, as prices increased by 0.2% for non-durable consumer goods and by 0.1% in the energy sector, while they remained stable for capital goods and durable consumer goods and decreased by 0.1% for intermediate goods. Prices in total industry excluding energy rose by 0.1%.

In the EU28, the 0.1% increase is due to rises of 0.2% for non-durable consumer goods and of 0.1% in the energy sector, while prices remained stable for capital goods and durable consumer goods and decreased by 0.1% for intermediate goods. Prices in total industry excluding energy also rose by 0.1%. The highest increases in industrial producer prices were observed in Bulgaria (+2.4%), Estonia (+1.4%), Denmark and Sweden (both +0.9%), and the largest decreases in Hungary (-1.0%), Ireland (-0.7%) and Slovakia (-0.6%).

The 2.0% increase in industrial producer prices in total industry in the euro area in July 2017, compared with July 2016, is due to rises of 2.7% for intermediate goods, of 2.4% for non-durable consumer goods, of 2.0% in the energy sector, of 0.9% for capital goods and of 0.5% for durable consumer goods. Prices in total industry excluding energy rose by 2.1%. In the EU28, the 2.3% price increase is due to rises of 2.8% for intermediate goods, the energy sector and nondurable consumer goods, of 1.0% for capital goods and of 0.9% for durable consumer goods. Prices in total industry excluding energy also rose by 2.3%. Industrial producer prices rose in all Member States. The largest increases were recorded in Belgium (+5.9%), Estonia (+5.4%) and Bulgaria (+5.2%).

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