Producer prices in European industry fell in November for the first time since July, following the price trend in the energy sector, while in Croatia they slightly increased, according to Eurostat data.
In the eurozone, producer prices of industrial products fell by 0.3 percent in November compared to October when they had increased by the same percentage, according to revised data from Eurostat.
In the EU, they decreased by 0.2 percent compared to the previous month when they had also increased by the same percentage.
The price drop in November ended a three-month period of growth in both areas, as shown by the statistical office tables.
The energy sector was the biggest burden, with a price drop in the eurozone of 0.8 percent on a monthly basis, following price increases in the previous three months. At the EU level, prices fell by 0.3 percent, also for the first time since July.
When excluding the energy sector, producer prices in the eurozone industrial sector slid by 0.2 percent, marking the fourth consecutive month of decline. They also fell by the same percentage in the EU, for the second consecutive month.
Largest drop in Slovakia
The most pronounced drop in producer prices of industrial products on a monthly basis was recorded in Slovakia in November, at three percent. Following were Portugal and Spain, where prices decreased by 2.3 and 2.1 percent, respectively.
In Croatia, producer prices in November were 0.1 percent higher compared to October, when they had decreased for the first time since May, by 1.1 percent.
Latvia and Malta recorded the same monthly growth rate in November.
Products in the Swedish industry saw the highest price increase, by 4.1 percent. France and Bulgaria followed with price increases of 2.4 and 0.7 percent, as shown by Eurostat tables.
