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Purchasing prices down in October

According to the European Statistical purchasing prices in industry fell significantly in October this year as compared to September. In the Eurozone (EZ15) prices fell by 0.8% and in the EU27 by 1.4%. In September this year prices had already decreased by 0.3% and 0.4% respectively. As compared to October 2007 the changes were +6.3% in the Eurozone and +7.3% in the EU27.

Monthly changes

In the energy sector prices fell by 2.0% and 4.0% respectively in the period from September to October 2008. Purchasing prices in all other industrial sectors fell by 0.4% in both the Eurozone and the EU27. Prices for consumer durables increased by 0.3%. For investment goods prices remained unchanged in the Eurozone and increased by 0.1% in the EU27. In both regions prices for consumer goods and intermediate inputs fell by 0.1% respectively.

Among member states which made data available the purchasing price index increased only in Hungary (+1.2%), Slovakia (+0.9%), Ireland (+0.4%) and Cyprus (+0.1%). The most significant reductions of this index were registered in Denmark (-5.1%), Great Britain (-4.2%) and Greece (-2.8%). In Germany prices remained unchanged.

Yearly changes

As compared to October 2007, purchasing prices increased by 3.2% in the Eurozone and by 3.9% in the EU27. Prices in the energy sector increased by 15.8% and 16.9% respectively. For intermediate inputs prices increased by 4.4% in the Eurozone and by 5.1% in the EU27. For consumer goods the respective changes were +2.7% and +3.6%. Prices for consumer durables increased by 2.7% and 2.8% respectively and for investment goods by 2.2% and 2.8% respectively.

Purchasing prices increased most in Luxembourg (+21.1%), Rumania (+15.0%) and Lithuania (+14.7%) and least in the Czech Republic (+3.9%), France (+4.3%) and Slovenia (+4.8%). GERMAN