Eurozone industrial producer prices down by 1.5% in March

According to the report from Eurostat, in March 2020, the month when COVID-19 containment measures began to be widely introduced by Member States, industrial producer prices fell by 1.5% in the euro area and by 1.4% in the EU, compared with February 2020. In February 2020, prices decreased by 0.7% in both the euro area and the EU.

In March 2020, compared with March 2019, industrial producer prices decreased by 2.8% in the euro area and by 2.5% in the EU.

Industrial producer prices in the euro area in March 2020, compared with February 2020, decreased by 5.5% in the energy sector and by 0.5% for intermediate goods, remained stable for capital goods and for non-durable consumer goods, while prices rose by 0.1% for durable consumer goods. Prices in total industry excluding energy fell by 0.2%. In the EU, industrial producer prices decreased by 5.5% in the energy sector and by 0.4% for intermediate goods, remained stable for capital goods, while prices rose by 0.1% for durable and non durable consumer goods. Prices in total industry excluding energy fell by 0.1%.

The largest decreases in industrial producer prices were observed in Greece (-5.3%), Lithuania (-5.1%) and Spain (-3.0%), while the only increases were recorded in Cyprus (+0.5%), Latvia and Malta (both +0.2%).