Croatia Among Nations With the Largest Decline in Prices of Industrial Products

Total Croatia News

Croatia in May had one of the largest declines among EU nations of annual industrial product prices, a report by the European Statistics Office showed

Production prices of industrial products sank by 6.3% in May compared to last May, accelerating their decline compared to April, when they fell 5.8%, Eurostat data showed, reported by on July 5, 2016.

This positioned Croatia among EU countries with the largest annual price decline, along with The Netherlands (8.2%), Greece (8.1) and Slovakia (5.9%).

In May, production prices fell in all EU member nations, except for Malta, where they grew by 0.9%.

On EU level production prices were reduced by 3.7%, brought down by the low energy price, down 11.3%. If this indicator is disregarded, prices fell by 1%.

In the Eurozone, production prices fell in May by 3.9%, while the energy sector prices fell 10.8%. Without the energy price reduction, the production prices fell by 1.2%.

At the monthly level, production prices in Croatia grew by a mild 0.1%, after a 1.5% fall in April, Eurostat reported.

Prices at the monthly level rose in almost all EU nations, most in Belgium (2.7%), The Netherlands (2%), Hungary (1.6%) and Greece (1.3%). They fell in Latvia, Sweden and Bulgaria.

At the EU level, prices at the monthly level rose in May by 0.6, after a 0.1% fall in April. The energy sector showed a 2.1% increase in prices, after a 0.4% reduction in April.

In the Eurozone, industrial production prices in May rose by 0.6% compared to the previous month, when they fell by 0.3%. The energy sector had a 1.7% increase of prices.


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