The prices charged by producers in the euro zone rose at a record rate in September.
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The industrial producer prices rose by 2.7% in September and were 16% higher year-on-year, as inflationary pressures continue to increase.
Eurostat revealed the surge in prices was driven by skyrocketing energy costs, which have risen more than 40% in the last year.
On a monthly basis, the industrial prices in the euro zone rose by 7.7% in the energy sector, by 1.0% for intermediate goods, 0.5% for capital goods, 0.4% for durable consumer goods, and 0.3% for non-durable consumer goods.
In Europe, monthly industrial producer prices rose by 7.8% in the energy sector, 1.0% for intermediate goods, 0.6% for capital goods, 0.5% for durable consumer goods, and 0.3% for non-durable goods.
Ireland registered the highest monthly increases of the industrial prices up by +23.2%, followed by Denmark at +8.4%, and Greece at +5.8%.