Industrial producer prices in the Eurozone (EA19) jumped 5% on a monthly basis in August a report by Eurostat revealed on Tuesday. In the entire European Union (EU27), the gauge moved up by 4.9% compared to the previous month. Over the previous 12 months, producer prices were up by 43.3% in the euro area, and 43% in the entire Union.
The energy sector led the hike with an 11.8% increase in the euro area and an 11.9% hike in the EU. On an annual comparison basis, prices of energy skyrocketed both in the Eurozone and in the block, soaring by 116.8% and 115.4% respectively.
Ireland saw the sharpest increase in prices, both on a monthly and on yearly basis.
