Prices in Romania’s energy industry on the rise by 13.8 per cent
In Romania, overall industrial producer prices (domestic and non-domestic) increased by 5.2% in March 2019 compared to the same month of the previous year, according to data from the National Institute of Statistics (INS). In the analysed period, industrial producer prices (domestic and non-domestic) went up 0.8% compared to February 2019. At the level of industrial producer prices, on the domestic market there is a 6.6% growth in March 2019 vs. March 2018, and for the non-domestic market industrial producer prices rose, in March 2019, by 2.9% compared to the similar period of the previous year.
On large industrial groups, in March 2019 vs. March 2018, INS statistics show price increased in the energy industry (+13.8%), in the intermediate goods industry (+3.8%), in the durable goods industry (+3.09%), in the current use goods industry (+2.9%) and in the capital goods industry (+1.5%).
On NACE sections and divisions, in March 2019 compared to March 2018, in the extractive industry there was an increase in prices by 16.4%, in the production and supply of electric and thermal energy, gas, hot water and air conditioning – by 14.04%, in water distribution, sanitation, waste management, decontamination activities – by 6.4% and in the manufacturing industry – by 3.3%.
In March 2019 compared to the similar period of 2018, prices of products coming out of the gates of plants were up 3.1% in the European Union (EU) and by 2.9% in the euro area, among the member states the first place being held by Romania, where industrial producer prices grew by 6.7% year-on-year, according to data published by Eurostat.
Romania ranks first in the EU when it comes to increase in industrial producer prices from one month to another, with an advance of 0.8%, being outpaced only by Greece where industrial producer prices increased by 1.1%.
The situation in the EU
In March 2019, compared with February 2019, industrial producer prices fell by 0.1% in the euro area (EA19) and rose by 0.1% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In February 2019, prices increased by 0.1% in the euro area and by 0.2% in the EU28.
In March 2019, compared with March 2018, industrial producer prices rose by 2.9% in the euro area and by 3.1% in the EU28 monthly comparison by main industrial grouping and by member state. Industrial producer prices in the euro area in March 2019, compared with February 2019, fell by 0.5% for the energy sector, remained stable for non-durable consumer goods, and rose by 0.1% for both capital goods and durable consumer goods and by 0.2% for intermediate goods. Prices in total industry excluding energy remained stable.
In the EU28, industrial producer prices rose by 0.2% for intermediate goods, by 0.1% for capital goods, durable consumer goods and non-durable consumer goods, while prices in the energy sector remained stable. Prices in total industry excluding energy rose by 0.2%.
The largest decreases in industrial producer prices were recorded in Denmark (-1.6%), Cyprus (-1.2%) and Estonia (-0.8%), while the highest increases were observed in Greece (+1.1%), Luxembourg and Romania (both +0.8%).
Annual comparison by main industrial grouping and by member state
Industrial producer prices in the euro area in March 2019, compared with March 2018, rose by 7.8% in the energy sector, by 1.5% for both capital goods and durable consumer goods, by 1.3% for intermediate goods and by 0.1% for non-durable consumer goods. Prices in total industry excluding energy rose by 1.0%.
In the EU28, industrial producer prices rose by 8.2% in the energy sector, by 1.7% for intermediate goods, by 1.6% for durable consumer goods, by 1.5% for capital goods and by 0.5% for non-durable consumer goods. Prices in total industry excluding energy rose by 1.3%.
Industrial producer prices rose in all member states, with the highest increases recorded in Romania (+6.7%), Belgium (+6.4%), Latvia (+6.1%) and Hungary (+5.5%).
