In August, industrial production prices across the euro area posted a year-on-year peak, marking a record rise that Eurostat confirms. The euro zone registered a notable increase of 43.3 percent from the same month a year earlier, following a 38 percent jump in the prior month, while the broader European Union experienced a 43 percent year-on-year escalation, compared with 37.9 percent in July.
Prices in euro area industry rose by 14.5 percent when energy is excluded, and among the twenty-seven member states the annual gain stood at 15.1 percent. This pattern reflects a broadening inflationary trend within industrial sectors that has persisted over the year, signaling structural shifts in cost structures and pricing power across manufacturing and production chains.
Compared with August 2021, the energy sector showed especially large increases, contributing to a total rise of 116.8 percent in the euro area. Intermediate goods recorded a 19.9 percent year-on-year increase. Non-durable consumer goods rose by 14.4 percent, durable consumer goods by 9.8 percent, and capital goods by 7.8 percent, underscoring a layered price dynamic across different industrial categories.
Within the broader EU, energy prices again led the ascent with a year-on-year increase of 115.4 percent, followed by a 20.1 percent rise in intermediate goods and 15.6 percent for non-durable goods. Durable consumer goods gained 10.2 percent, while capital goods showed an 8.1 percent uptick, illustrating a consistent pattern of elevated production costs feeding into consumer prices across multiple sectors.
Yearly comparisons across all EU member states reveal divergent but generally rising patterns, with the sharpest increases observed in Ireland with a 97.4 percent leap, Romania at 70.9 percent, and Bulgaria at 68.3 percent. In contrast, Spain posted a more moderate but still substantial 41.8 percent annual rise in August, illustrating regional variations in price momentum within the EU framework.
On a month-to-month basis, euro area industrial prices advanced by 5.0 percent from July to August, marking the strongest monthly increase since March. This followed a 4.0 percent rise in July, while the 27-country average growth stood at 4.9 percent for the same period, signaling a continued acceleration in producer prices across the union.
The monthly leaders in producer price increases were Ireland with a substantial 28.4 percent rise, Bulgaria at 12.5 percent, and Hungary at 10.6 percent. In contrast, Luxembourg showed a decline of 1.8 percent, Portugal recorded no change, and the Czech Republic moved down by 0.1 percent. Spain posted a positive monthly change of 2.8 percent, reflecting varied price dynamics across national economies within the euro area and the EU as a whole.