The increase in industrial producer prices in the EU and euro zone slowed down in May, this being the second month in a row to see their growth slow down. "In contrast, the increase in Croatia's industrial producer prices was much more significant," state news agency Hina said on Monday citing a Eurostat report.

In May 2022, industrial producer prices rose by 0.7% in the euro zone and by 0.8% in the EU compared with April 2022, which is their slowest month-on-month increase since February last year, Eurostat reported on Monday. In April 2022, industrial producer prices increased by 1.2% in the euro area and by 1.3% in the EU.

In May, the strongest increase, of 1.7%, was recorded for intermediate goods in both the EU and euro area, although it was half the growth of the previous month.

The growth of non-durable consumer goods prices also slowed down, to 1.4% in the EU and 1.3% in the euro area.

Prices in the energy sector stabilised after a sharp fall in April, by 1.1% in the EU and by 1.3% in the euro area.

Governments have intervened to curb the surge in energy prices and protect energy producers and consumers from shocks by abolishing levies on renewables and subsidies for gas on the stock market.

When energy is excluded, producer prices rose in May in the EU by 1.4% and by 1.3% in the euro area, Eurostat reported.

Among the EU countries with data available to Eurostat, producer prices in Finland rose the strongest in May, by 5.5%, followed by Estonia (+5.4%) and Lithuania (+4.9%).

In Croatia, industrial producer prices increased by 3.4% in May compared to April, when they increased by 2.6%. The increase in industrial producer prices in Slovenia in May (+3.1%) was close to that in Croatia.

A drop in producer prices in May on a monthly basis was recorded only by Ireland, by as much as 19.4%, Slovakia (-4.4%), the Netherlands (-0.8%) and Bulgaria and France (-0.1%).

Industrial producer prices in the EU and euro area increased in May by 36.4% and 36.3% respectively on the year, Eurostat reported.

In April, they jumped 37% in the EU and 37.2% in the euro area, the strongest since Eurostat began publishing reports in 2000 and 1997, respectively.

The strongest price increase in May was in the energy sector in both areas, of 92.9% in the EU and 94.4% in the euro area, which is only slightly lower than in April.

It is followed by prices of intermediate goods, with an increase of 25% compared to the same period last year.

The increase in capital goods was the lowest, of 7.9% in the EU and 7.5% in the euro area.

When the energy sector is excluded, industrial producer prices in the EU were 16.7% higher in May than in the same month last year, and 16% higher in the euro area.

Industrial producer prices were higher in all EU countries in May compared with the same month last year, and they increased the most in Denmark and Romania, by 59.8% and 59.2% respectively.

Increases of more than 50% were also registered in Estonia and Belgium.

According to the Eurostat report, industrial producer prices in Croatia were 31.3% higher in May year-on-year. In April, they increased by 28.4%.

Industrial producers prices in Poland increased 32.2% y-o-y.

The smallest year-on-year increase in industrial producer prices was registered in Malta (9.4%).