Euro area producer prices rise 36.3% in May

Industrial producer prices jumped 36.3% in the euro area and 36.4% in the EU, the bloc's statistical authority said on Monday.

On a monthly basis, prices increased 0.7% in the euro area and 0.8% in the 27-member bloc, Eurostat said in a statement.

The energy was once again the main factor behind the rise in prices, which nearly doubled in both zones compared to a year ago.

"Industrial producer prices in the euro area in May 2022, compared with May 2021, increased by 94.4% in the energy sector, by 25.0% for intermediate goods, by 12.3% for non-durable consumer goods, by 9.1% for durable consumer goods, and by 7.5% for capital goods," it said.

Eurostat noted a 16.0% increase in overall industry prices excluding energy.