Euro area producer prices jump 1.9% in August, leaving them 8.2% above a year earlier

Eurostat's first estimate for August, published on 5 October 2026, shows industrial producer prices in the euro area up 1.9% on July. July had risen 1.6%, so the two months together are a rise of about 3.5%. Compared with August 2025, prices were 8.2% higher in the euro area and 8.0% higher in the EU.

The breakdown

Changes in euro area prices on the domestic market:

• Total industry: +1.9% on the month, +8.2% on the year
• Energy: +5.6% on the month, +21.0% on the year
• Intermediate goods: +0.4% and +6.8%
• Capital goods: +0.2% and +2.6%
• Durable consumer goods: +0.4% and +3.4%
• Non-durable consumer goods: +0.1% and −0.8%
• Total excluding energy: +0.2% and +3.4%

Energy explains almost all of the jump: strip it out and prices rose 0.2% in the month. Prices rose in every EU member state in August. The largest monthly increases were in Bulgaria and Estonia (both +3.3%), Italy (+3.1%) and Denmark (+3.0%). The largest annual increases were in Ireland (+17.1%), Bulgaria (+16.8%) and Lithuania (+14.6%); Luxembourg (−7.9%) was the only country with a fall.

The monthly series shows how sharp the energy move has been this year: +11.0% in March, then −0.3%, −1.0% and −1.5% from April to June, then +5.8% in July and +5.6% in August.

Why it matters

Producer prices measure what factories charge, before retailers add their margins, so they are an early read on what consumers may pay later. Consumer prices are already responding: the euro area flash inflation estimate for September was 3.8%, with energy up 18.8% (report). For the European Central Bank, which raised its deposit rate to 2.50% on 10 September (report), the 3.4% annual rise excluding energy shows that the pressure is not confined to fuel. Energy inflation explained covers how the shock moves through the economy.