EU’s industrial producer prices (IPP) climbed 4.5pc in the EU in March 2021 against the same month last year but by 1.2pc against the preceding month according to Eurostat. The growth expanded in March against a growth of 0.6pc in the EU in February 2021.
Industrial producer prices have been on the rise since May 2020 after the Q1 2020 decline due to COVID-19 lockdowns. The increases in March exceed the most recent three-year height in Q3 2018.
Industrial producer prices in total industry excluding energy sector rose by 0.9pc in monthly terms and 2.5pc against the same year-ago month.
Intermediate goods PPI climbed by 4.6pc in annual terms but by 1.5pc in monthly terms as capital goods rose by 0.4pc compared to the same month last year and 0.3pc from the previous month. The non-durable consumer goods sector rose by 0.4pc annually and 0.8pc monthly. Durable goods climbed by 1.6pc annually in March this year and 0.2pc against February.
Seasonally adjusted GDP fell by 0.4pc in Q1 2021 in the EU against the preceding quarter. The annual decline follows a decline by 0.5pc in Q4 2020 after a robust increase of 11.7pc in Q3 2020, given the previous loss of 11.2pc in Q2 2020.