Eurozone Producer Price Index (PPI)

About this data

Monthly domestic industrial Producer Price Index (2021=100) for the Euro area and the EU: headline and four main industrial groupings by end-use. The PPI leads the HICP by several months for goods, serving as an early indicator of consumer inflation; energy exhibits extreme volatility and dominates the headline index, necessitating its exclusion when assessing underlying trends. The series is NOT seasonally adjusted (Eurostat publishes only unadjusted data for PPI). The middle section of the table (keyed `ppix-`) breaks down data to the NACE Rev.2 two-digit divisional level, illustrating the origin and transmission pathways of inflation: the 2021-2022 shock originated in coke, refined petroleum products, and electricity and gas, before spreading to energy-intensive sectors such as chemicals, basic metals, and paper, and subsequently reaching food and final consumer goods several quarters later. While headline PPI shows only a single peak, sectoral breakdown reveals the complete transmission chain and identifies which industries cooled first. Six smaller economies (Slovakia, Luxembourg, Latvia, Estonia, Cyprus, Malta) publish data only at the section level and are thus restricted to the first six rows. The final section of the table (keyed `imp-`) tracks industrial import prices — the initial link in the inflation transmission chain: import prices rise first, pushing up producer prices after several months, which in turn feed into consumer prices. Because the Euro area imports virtually all of its energy, this also serves as a direct measure of exposure to global energy price shocks, with the 2022 peak more pronounced here than in any other price series. These five rows use the same metric names as the first five rows of the PPI to allow immediate side-by-side comparison of input and output prices; Eurostat calculates these exclusively at the bloc level. Source: Eurostat.