Eurozone Wholesale Prices Jump 26% in 2021 as Energy Costs Soar

Source: Eurostat

Producer prices in both the eurozone and the European Union closed in 2021 with slower growth, but the full-year climbed by double-digits. EZU is down 2.23%, while VGK is down 1.03% premarket.

• Industrial producer prices in both territories grew by 2.9% in December, higher than the eurozone’s 1.8% and the European Union’s 2.0% in the past month.
• Prices in the eurozone and the European Union grew by 26.2% in December compared with the same month in the previous year.
• The annual average industrial producer prices for the full-year 2021 clocked in at 12.2% in both territories, compared with 2020.
• The highest annual increases were recorded in the energy sector, which climbed by 71.9%, intermediate goods by 18.9%, and durable consumer goods by 5.3%.
• Higher prices were also seen in non-durable consumer goods, which grew by 5.0%, and capital goods which climbed 4.7%.
• Higher inflation was recorded in all member states, with the highest annual increases reported in Ireland with 99.2%, Denmark with 58.9%, and Romania with 42.3%.