Euro area SEPT. PRODUCER Prices unchanged but inflationary y-o-y
4 NOVEMBER 2011
PRODUCER PRICES edged up +0.3% in September month-on-month smoothed out by energy prices +1% modest gain (from the previous month -0.8%) as global recession fears maintained Brent crude oil prices inflationary trends subdued (to a low USD 102 per barrel by mid-month) along with commodities on the same period. In the third quarter, producer prices recorded a similar increase.
In September, Intermediate Goods, mostly petroleum derived, saw producer prices freeze for the third consecutive month, as major raw materials including copper, a raw material electric component, recorded prices declines (up to -6%) on slower world demand, confirmed by the European Commission's report in addition to China‘s third uninterrupted Purchasing Managers Index (PMI) slow down.
Capital Goods producer prices stagnated to nil for the sixth month, as the economic halt kept prices unchanged especially as regards the automobile industry due to the end of the car fleet incentive within the Union.
Durable Consumer Goods producer prices inched up +0.4%, a mild increase despite Japan's production chain interruption due to March earthquake while Non Durable stayed stable or +0.1% despite food price inflation, lower however compared with February peak.
France's producer prices followed the general trend and grew +0.2% as coke and refinery producer prices re-aligned with external markets or +2.2% and despite higher refinery costs. Germany's domestic prices turned positive and rose +0.3% (from -0.3% in August) and equally Spain‘s. Italy's producer prices increased +0.2% In the UK, the Union's fifth economic weight, producer prices climbed +1% (from -0.9%) as import prices were inflated by a weak Sterling exchange rate.
In one year, the Euro area's producer prices stayed at a steep +5.8% increase, one percentage point lower compared with April equally to energy prices +12.2%. Intermediate Goods producer prices by contrast moved down to +5% and Capital Goods remained linear at +1.5% Durable Goods producer prices grew +2.5% and Non Durable stayed sustained at +3.5%.
France's domestic producer prices rose +6% in synch with the Euro area's +5.8%. However coke and refinery prices remained, on the same period, three percentage above external markets +25.7% gain. In Germany domestic producer prices grew a lower +5.5% and despite higher inflation (+2.9% in September compared with France Metropole +1.1%) due to lower food prices mostly. In Italy, producer prices increased +4.7% while Spain's jumped +7.1%. The highest producer prices increases were recorded in the UK where prices shot up +13.2% followed by Lithuania +12.2% due to the country‘s energy dependency.
|
Subscribe Today
