In December 2024, the euro area producer price index experienced a 0.4% increase compared to November 2024, mirroring the trend observed in the broader EU. This marginal rise follows a more substantial 1.7% growth in producer prices in both regions during November 2024. According to the latest estimates released by Eurostat, the statistical office of the European Union, these figures provide critical insights into the Euro Precio landscape and broader economic trends.
Year-on-year, when comparing December 2024 to December 2023, euro area producer prices remained stable, while the EU saw a slight increase of 0.1%. Looking at the annual average for 2024, compared to 2023, industrial producer prices actually decreased by 4.2% in the euro area and 4.0% in the EU. This indicates a complex economic environment with fluctuating price pressures throughout the year.
Monthly Producer Price Changes: Sector and Member State Breakdown
Analyzing the month-over-month changes within the euro area, several key sectors contributed to the overall euro precio movement in December 2024:
- Intermediate Goods: Prices saw a slight increase of 0.1%.
- Energy: A significant increase of 1.4% was recorded, highlighting the continued volatility in energy markets and its impact on euro area producer prices.
- Capital Goods: Prices edged up by 0.1%.
- Durable Consumer Goods: Experienced a rise of 0.2%.
- Non-durable Consumer Goods: Increased by 0.1%.
Interestingly, when excluding energy costs, the total industry prices within the euro area remained stable, underscoring the significant impact of energy on the overall producer price index.
The EU mirrored these trends, with industrial producer prices showing similar changes across sectors compared to November 2024:
- Intermediate Goods: Remained stable.
- Energy: Increased by 1.3%, again demonstrating the strong influence of energy prices on the overall index.
- Capital Goods: Increased by 0.1%.
- Durable Consumer Goods: Rose by 0.2%.
- Non-durable Consumer Goods: Increased by 0.1%.
Similar to the euro area, excluding energy, the total industry prices in the EU remained stable.
Across Member States, there were notable variations in monthly industrial producer price changes. Bulgaria (+5.1%), Croatia (+2.4%), and Slovakia (+1.5%) recorded the highest increases. Conversely, Ireland (-1.5%), Romania (-1.3%), and the Netherlands (-0.4%) experienced the largest decreases. These disparities highlight the diverse economic conditions and industrial structures across the European Union.
Annual Producer Price Trends: Sector and Member State Insights
Examining the annual comparison for December 2024 against December 2023 reveals further details about the euro precio evolution:
Within the euro area:
- Intermediate Goods: Prices saw a marginal increase of 0.1%.
- Energy: Decreased by 1.7% compared to the previous year, indicating a cooling down of energy price pressures on an annual basis, despite monthly increases.
- Capital Goods: Increased significantly by 1.4%.
- Durable Consumer Goods: Rose by 0.8%.
- Non-durable Consumer Goods: Showed a substantial increase of 2.0%.
Excluding energy, the total industry prices in the euro area increased by 0.9% year-on-year.
The EU followed a similar pattern in annual producer price changes:
- Intermediate Goods: Increased by 0.1%.
- Energy: Decreased by 1.4% annually.
- Capital Goods: Increased by 1.6%.
- Durable Consumer Goods: Increased by 0.8%.
- Non-durable Consumer Goods: Increased by 1.9%.
Excluding energy, the total industry prices in the EU increased by 1.0% compared to the previous year.
At the Member State level, Ireland (+11.1%), Bulgaria (+6.6%), and Denmark (+4.7%) showed the highest annual increases in industrial producer prices. In contrast, Slovakia (-17.0%), Luxembourg (-4.2%), and France (-3.8%) experienced the most significant decreases. These figures reflect varying industrial performances and economic policies across the EU member states, influencing the overall euro precio dynamics.
| Industrial producer prices on the domestic market % change compared with previous month |
|---|
| **2024** |
| **Jul** | **Aug** | **Sep** | **Oct** | **Nov** | **Dec** |
| **Euro area** |
| **Total industry** | 0.8 | 0.5 | -0.6 | 0.4 | 1.7 | 0.4 |
| **Total industry excluding energy** | -0.1 | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 |
| **Intermediate goods** | 0.0 | -0.2 | -0.1 | -0.1 | -0.1 | 0.1 |
| **Energy** | 2.7 | 1.8 | -2.0 | 1.6 | 5.6 | 1.4 |
| **Capital goods** | 0.0 | 0.1 | 0.0 | 0.1 | 0.0 | 0.1 |
| **Durable consumer goods** | -0.1 | 0.0 | 0.2 | 0.3 | -0.2 | 0.2 |
| **Non-durable consumer goods** | 0.0 | 0.0 | 0.2 | 0.2 | 0.1 | 0.1 |
| **EU** | | | | | | |
| **Total industry** | 0.7 | 0.4 | -0.6 | 0.3 | 1.7 | 0.4 |
| **Total industry excluding energy** | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.0 |
| **Intermediate goods** | 0.0 | -0.1 | -0.1 | -0.1 | 0.0 | 0.0 |
| **Energy** | 2.5 | 1.1 | -1.9 | 1.1 | 5.6 | 1.3 |
| **Capital goods** | 0.0 | 0.2 | 0.0 | 0.0 | 0.1 | 0.1 |
| **Durable consumer goods** | -0.1 | -0.1 | 0.1 | 0.3 | 0.0 | 0.2 |
| **Non-durable consumer goods** | -0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 |
| Source dataset:[sts_inppd_m](https://ec.europa.eu/eurostat/databrowser/view/sts_inppd_m__custom_12432152/default/table?lang=en "https://ec.europa.eu/eurostat/databrowser/view/sts_inppd_m__custom_12432152/default/table?lang=en") || Industrial producer prices on the domestic market % change compared with previous month |
|---|
| **2024** |
| **Jul** | **Aug** | **Sep** | **Oct** | **Nov** | **Dec** |
| **Euro area** | 0.8 | 0.5 | -0.6 | 0.4 | 1.7 | 0.4 |
| **EU** | 0.7 | 0.4 | -0.6 | 0.3 | 1.7 | 0.4 |
| **Belgium** | 0.2 | -0.1 | 0.1 | 0.6 | 1.2 | 1.1 |
| **Bulgaria** | 3.6 | 1.0 | -0.6 | -2.9 | 4.9 | 5.1 |
| **Czechia** | 0.5 | -0.4 | -0.2 | 0.2 | 0.5 | 0.6 |
| **Denmark** | 0.1 | 1.3 | -0.1 | 0.7 | 3.6 | 0.5 |
| **Germany** | 0.2 | 0.2 | -0.5 | 0.2 | 0.6 | -0.1 |
| **Estonia** | 0.0 | 2.2 | -3.6 | 1.0 | -1.4 | 1.1 |
| **Ireland** | 0.7 | -2.2 | 2.5 | 2.3 | 4.5 | -1.5 |
| **Greece** | 2.9 | 1.7 | 0.6 | -0.6 | 0.7 | 0.4 |
| **Spain** | 1.5 | 1.4 | -2.4 | -0.1 | 2.9 | 0.9 |
| **France** | 0.3 | 0.2 | -0.2 | 0.9 | 3.7 | 1.0 |
| **Croatia** | 1.7 | -0.5 | -0.2 | 0.4 | -0.2 | 2.4 |
| **Italy** | 2.0 | 1.2 | -0.8 | 1.0 | 1.8 | 0.8 |
| **Cyprus** | 0.8 | 0.0 | -0.8 | 0.0 | -1.1 | 0.2 |
| **Latvia** | -0.5 | 0.4 | -1.2 | 0.2 | -0.2 | 0.3 |
| **Lithuania** | 0.7 | -1.6 | -0.1 | -0.4 | 0.1 | 1.1 |
| **Luxembourg** | 3.1 | -0.3 | 0.5 | 0.0 | -0.3 | 0.0 |
| **Hungary** | 2.0 | 0.2 | -0.2 | -0.5 | 3.1 | 0.1 |
| **Malta** | 0.0 | 0.1 | 0.2 | 0.1 | 0.0 | 0.1 |
| **Netherlands** | -0.3 | 0.1 | 0.1 | 0.4 | 1.1 | -0.4 |
| **Austria** | -0.2 | 0.5 | -0.2 | 0.2 | 0.7 | 0.3 |
| **Poland** | 0.2 | -0.7 | -0.5 | 0.1 | 0.2 | -0.3 |
| **Portugal** | 1.3 | 0.0 | -0.9 | -0.8 | 0.8 | 0.4 |
| **Romania** | 2.5 | -1.8 | -2.4 | -1.2 | 4.1 | -1.3 |
| **Slovenia** | 0.1 | 0.2 | 0.2 | -0.7 | 1.2 | 0.3 |
| **Slovakia** | 1.9 | 0.4 | 0.4 | -2.0 | -0.5 | 1.5 |
| **Finland** | -0.7 | -0.9 | 1.0 | -0.6 | 0.4 | -0.1 |
| **Sweden** | -0.9 | -0.7 | -0.4 | 0.8 | 4.2 | 0.1 |
| **Norway** | 0.4 | -0.8 | 0.0 | 1.3 | 0.9 | 0.6 |
| **Switzerland** | 0.3 | -0.4 | 0.0 | -0.1 | 0.0 | 0.1 |
| Source dataset: [sts_inppd_m](https://ec.europa.eu/eurostat/databrowser/view/sts_inppd_m__custom_12432228/default/table?lang=en "https://ec.europa.eu/eurostat/databrowser/view/sts_inppd_m__custom_12432228/default/table?lang=en") || Industrial producer prices on the domestic market % change compared with same month of previous year |
|---|
| **2024** |
| **Jul** | **Aug** | **Sep** | **Oct** | **Nov** | **Dec** |
| **Euro area** |
| **Total industry** | -2.1 | -2.3 | -3.5 | -3.3 | -1.2 | 0.0 |
| **Total industry excluding energy** | 0.2 | 0.3 | 0.6 | 0.8 | 0.9 | 0.9 |
| **Intermediate goods** | -1.1 | -0.9 | -0.8 | -0.5 | -0.3 | 0.1 |
| **Energy** | -7.2 | -7.8 | -11.6 | -11.2 | -5.1 | -1.7 |
| **Capital goods** | 1.3 | 1.3 | 1.3 | 1.3 | 1.4 | 1.4 |
| **Durable consumer goods** | 0.3 | 0.3 | 0.5 | 0.7 | 0.6 | 0.8 |
| **Non-durable consumer goods** | 1.1 | 1.1 | 1.5 | 1.9 | 2.0 | 2.0 |
| **EU** | | | | | | |
| **Total industry** | -2.0 | -2.2 | -3.2 | -3.1 | -1.0 | 0.1 |
| **Total industry excluding energy** | 0.3 | 0.4 | 0.5 | 0.7 | 0.9 | 1.0 |
| **Intermediate goods** | -1.2 | -0.8 | -0.8 | -0.5 | -0.2 | 0.1 |
| **Energy** | -6.1 | -7.0 | -10.7 | -10.3 | -4.7 | -1.4 |
| **Capital goods** | 1.4 | 1.6 | 1.5 | 1.5 | 1.6 | 1.6 |
| **Durable consumer goods** | 0.3 | 0.1 | 0.3 | 0.5 | 0.5 | 0.8 |
| **Non-durable consumer goods** | 0.9 | 1.1 | 1.5 | 1.7 | 1.9 | 1.9 |
| Source dataset: [sts_inppd_m](https://ec.europa.eu/eurostat/databrowser/view/sts_inppd_m__custom_12432253/default/table?lang=en "https://ec.europa.eu/eurostat/databrowser/view/sts_inppd_m__custom_12432253/default/table?lang=en") |Key Takeaways and Economic Context
The December 2024 euro area producer prices data from Eurostat reveals a nuanced picture of inflation at the producer level. While month-on-month increases remain modest, driven largely by energy costs, the annual figures suggest a stabilization in euro precio growth. The decrease in annual average producer prices for 2024 compared to 2023 indicates a significant shift from the inflationary pressures experienced in the previous year.
The variations across Member States and industrial sectors highlight the complexity of the European economic landscape. Factors such as national energy policies, industrial specialization, and domestic demand are likely contributing to these differences in producer price dynamics. Monitoring these trends is crucial for businesses and policymakers to understand the evolving inflationary environment within the euro area and the broader EU.
For further details and data, refer to the Eurostat website and related publications.
