Romania among EU countries with biggest falls in industrial producer prices in September

Prices of products leaving the factory gates registered, in September 2024 as compared to the previous month, a drop of 0.6% both in the EU and in the euro zone, but Romania is among the EU member states with the highest drops of the prices of industrial production, show the data published on Wednesday by Eurostat.According to these data, from month to month, the prices of the industrial production dropped in half of the member states, but the most important drops were registered in Estonia (minus 3.6), Spain (minus 2.4%) and Romania (minus 2.2%). Eurostat says that the evolution of the industrial production prices in the EU was influenced especially by the drop by 1.8% of the prices for energy.Annually, the prices of industrial production registered a drop of 3.4% in the euro zone and a decline of 3.3% in the EU. The most important drops were registered in Slovakia (minus 18.5%), Luxembourg (minus 9.9%) and Latvia (minus 7.4%).Romania is among the member states where the prices of industrial production dropped annually, with a decline of 2.7%.Annually, the prices of industrial production in the EU were influenced mainly by the prices for energy, which registered a decline of 10.6%.The changes in the prices at factory gates is due mainly to end consumers and that is why it can be an indicator of the evolution of inflation which the Central European Bank targets through its monetary policy.Previously, the National Institute for Statistics (INS) published its own data according to which the prices of industrial production ( domestic and foreign market) dropped in September 2024 by 1.7% as compared to the similar period of 2023. The prices of industrial production dropped against August 2024 by 1.8%.For the big industrial groups, prices in the industry of capital goods increased, in September 2024, as compared to September 2023 by 6.11%, those in the industry of consumer goods went up by 3.93% and prices in the industry of durable goods had a plus of 1.51%. The drop was registered in the prices in the energy industry, by 9.7% and in the industry of intermediate goods by 0.11%.   As compared to the previous month, slight increases of the prices of industrial production per total ( domestic and foreign market) were made, in September 2024, in the industry of consumer goods (0.45%) and in the industry of capital goods (0.06%) while in the industry of intermediary goods stagnated. Dropes were in the energy industry – 5.48% and in the industry of durable goods – 0.28%.Depending on industrial sections and divisions, in September 2024, as compared to the similar month of 2023, the indicator of prices of industrial production (domestic and foreign market) increased significantly in the distribution of water, sanitation, waste management, decontamination activities by 13.38% and slightly in the manufacturing industry by 0.47%. Drops were in the production and supply of electricity and thermal energy, hot water and air conditioning by 7,2 % and extracting industry by 2.86%.In September against August, the indicator of prices of industrial production (domestic and foreign market) increased in the extracting industry – by 2.74% and in water distribution, sanitation, waste management, decontamination activities by 0.58%. Drops were mentioned in the production and supply of electricity and thermal energy, gas, hot water and air conditioning by 5.64% and manufacturing industry by 0.41%.