In Greece, the industrial producer price index (PPI) decreased by 9% on an annual basis in November, according to data released on Friday by the European Statistical Service (Eurostat), while compared to the previous October, they slightly increased by 0.3%.

Meanwhile, the data for Industrial producer prices in the Eurozone showed a significant decline of 8.8% in November 2023 on an annual basis, while at the EU level, the decrease amounted to 8.1%.

Compared to the previous month, October 2023, the reduction was marginal at 0.3% in the Eurozone and 0.2% in the EU.

Industrial producer prices in the Eurozone in November 2023, compared to November 2022, decreased by 23.7% in energy and 5.3% in intermediate goods, while they increased by 3.1% in capital goods, 3.4% in durable consumer goods, and 3.6% in non-durable consumer goods. Overall prices at the industry level, excluding energy, decreased by 0.5%.

In the EU, industrial producer prices decreased by 21.3% in energy and 5.2% in intermediate goods, while they increased by 2.8% in durable consumer goods, 3.0% in capital goods, and 3.4% in non-durable consumer goods. Excluding energy, industry prices decreased by 0.6%.

The most significant annual decreases in producer prices in the industry were recorded in Belgium (-18.7%), Italy (-16.3%), and Latvia (-15.3%). The highest increases were observed in Luxembourg (+20.4%), Slovakia (+10.9%), and Slovenia (+2.9%).

The PPI measures price changes from the point of view of the producers/manufacturers of a product.