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Malta registers highest producer price increase in EU

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Industrial producer prices in Malta rose by 1.8 percent year-on-year in November 2020, bucking the trend across the European Union. Figures by Eurostat shows that Hungary and Slovenia were the only other two member states to record an increase (both +1.1%) in the same period as EU producer prices fell by an average 1.8 percent.

The energy sector was the only downward trend in the bloc, as prices declined by 7.5 percent from November 2019. Durable consumer goods, on the other hand, contributed the highest increase, surging by 1.5 percent in the same period.

Compared with October 2020, industrial producer prices increased by 0.4 percent in both the EU and euro area, but no change was observed in Malta. France and Denmark registered the highest month-on-month increase, 1.7 percent both, while Ireland and Slovakia experienced the sharpest decrease, falling by 1.4 percent and 0.7 percent, respectively.

All industry sectors in the EU except capital goods (-0.1%) recorded an increase from October to November. Energy prices soared by 1.4 percent, the highest increase among industrial groupings.

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