Production costs in EU up by one percent

In July this year production costs in industry increased by 1.1% as compared to June in the EU15. In the EU27 this increase was 0.9%. For both these regions the increases are smaller than those of the previous month (+1.0% and +1.4% respectively). As compared to July 2006 production costs increased by 9.0% in the Eurozone and by 11.0% in the EU27. These figures were recently published by the European Statistical Office (Eurostat).

Monthly changes

Leaving energy out production costs in industry increased by 0.5% in both the Eurozone and the EU27 in July this year. Prices for energy grew by 2.8% and 1.9% respectively. Intermediate inputs become 0.8% more expensive in both regions. The prices for consumer goods rose by 0.2% and 0.3% respectively. In both regions costs for investment and utility goods increased by 0.2%.

Costs increased most in Bulgaria (+2.9%), the Netherlands (+2.1%) and Germany (+2.0%). The smallest increases were registered in the Czech Republic (+0.1%) and Great Britain (+0.2%). In Ireland the production cost index remained unchanged.

Annual changes

As compared to July 2007 production costs in industry increased by 4.3% in the Eurozone and by 4.9% in the EU27 (without energy). Energy costs grew by 24.5% and 29.4% respectively. Intermediate inputs become 5.6% more expensive in the Eurozone and by 6.5% in the EU27. For consumer goods the increases were 4.6% and 5.2% respectively. For utility goods the respective price rises were 2.4% in the Eurozone and 2.5% in the EU27. For investment goods the respective figures were 2.0% and 2.5%.

The most significant increases were registered in Denmark (+23.2%), Great Britain (+20.0%) and Lithuania (+18.9%), the smallest in the Czech Republic (+5.3%), Ireland (+6.1%) and Slovakia (+6.3%). GERMAN

Explanations:

  • Eurozone (EZ15): Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia, Finland, Cyprus and Malta
  • EU27: Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Luxembourg, Hungary, Malta, the Netherlands, Austria, Portugal, Poland, Romania, Slovenia, Slovakia, Finland, Sweden and Great Britain