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Eurozone, EU Industrial Inflation Surge Over 20% in November

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Industrial inflation in both the eurozone and the European Union surged by over 20% in November 2021, driven mainly by the increases recorded in the energy sector.

Source: Eurostat

EZU is up 0.08%, while VGK is flat premarket.

Industrial producer prices in both the eurozone and the European Union surged by 23.7% in November from year-ago levels, faster than the recorded 21.9% in the euro area and the 21.8% in the EU seen in the previous month.

The biggest annual jump was seen in the energy sector with 66%, followed by intermediate goods with 18.3%, durable consumer goods with 4.7%, capital goods with 4.4%, and non-durable consumer goods with 3.8%.

Monthly inflation in both areas decelerated in November — the eurozone down to 1.8% from 5.4% in October and the EU to 2.0% from 5.0% the previous month. The biggest increase was also recorded in the energy sector.

The highest monthly increases were in Denmark, Bulgaria, and Romania, while the only decline was reported in Ireland.

 

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