site.btaBulgaria, Portugal Ranked Second Among EU Members in Industrial Producer Price Growth for August

In August 2024, compared with July 2024, industrial producer prices increased by 0.6% in the eurozone and by 0.4% in the EU, which is a slowdown in price growth compared to the reported July monthly growth of 0.8. the latest estimates from Eurostat show. On a year-on-year basis, industrial producer prices fell by 2.1% in the EU in August compared to the same month in 2023.

In Bulgaria, industrial producer prices rose by 1.9% in August 2024 compared to the same month in 2023, accelerating their growth from July when the indicator was at 0.9%. This represents the largest annual increase in producer prices since March 2023. Also in August, Bulgaria shared the second place with Portugal for the most significant industrial producer price growth among EU countries.

In August, compared to July 2024, Bulgarian industrial producer prices increased by 1% after rising by 3.6% in the previous month. In July, Bulgaria had the highest growth in EU industrial producer prices on a monthly basis.

According to the National Statistical Institute (NSI), Bulgaria's overall industrial producer price index increased by 0.4% in August 2024 compared to the previous month. On a year-on-year basis, the index recorded a 1.5% growth.

The Eurostat data shows that among the EU member states, producer prices in industry rose most significantly in Estonia (2.2%), while Ireland registered the sharpest decline (-3.8%).

Compared to the same month 2023, in August 2024, Slovakia had the largest decline in EU producer prices (-18.3%) and Romania the largest increase.