Industry factory production

According to data released on Wednesday by the European statistics arm, Eurostat, in December, Malta was the only country in the EU to record a decline in industrial producer prices. 

Despite recording the third strongest annual increase in the EU, Malta’s industrial producer prices decreased slightly in December, by 0.1 per cent.

Industrial producer prices indicate trends in the trading prices of industrial goods. There is also producer price data for services, consumer goods, and construction.

Increased producer prices generally indicate higher demand for goods, but can also reflect fluctuating currency value, or supply shortages.

Across the euro area, industrial producer prices remained largely stable, increasing by 0.3 per cent (excluding energy). 

EU countries experienced a slightly smaller increase, of 0.2 per cent. 

The highest increase in industrial producer prices in December was recorded in Ireland, which increased by 6.8 per cent.

In the energy sector, industrial producer prices for energy gained back some of the damage wrought over 2020, climbing 2.5 per cent. 

Malta’s industrial producer prices largely plateaued in the last half of 2020. In the five months prior to December, data shows that month-on-month industrial producer prices changed by less than 0.05 per cent. 

Despite the slight fall in December, when compared to December 2019, industrial producer prices were up distinctly, by 1.7 per cent.

In the EU, aside from energy, the sector to experience the highest increase in industrial producer prices was intermediate goods (+0.5 per cent), followed by capital goods (+0.2 per cent).

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