European Producer Prices Down By 0.2%

The monthly industrial producer price index for December 2011 fell by 0.2% in both the euro area and the EU27 according to figures published by Eurostat. The annual comparison shows an increase of 4.3% in the euro area and 4.9% in the EU27. The average for 2011 was 5.9% in the euro area and 6.7% in the EU27.

Energy prices fell in both zones over the month (0.4% in the euro area and 0.6% in the EU27) but increased over the year (9.5% in the euro area and 9.6% in the EU27). The annual comparison shows the fall in the total industry (excluding construction) producer prices index decreasing year on year in the euro area. The trend is reflected in the index for intermediate goods in both the euro area and the EU27.