Industrial prices in Romania up 6.3% in October, driven by 20% more expensive energy

Industrial production prices, or the factory gate prices, increased by 6.3% in October alone - double the 3.2% advance in September - driven by the energy price that surged by over 20% in the month, data released by the statistics office INS revealed.

Over the past 12 months, the industrial prices rose by 26.8% YoY on average, while the energy price advanced by nearly 75%.

The shock originating in the energy production sector is visibly propagating across the processing sector toward the consumer prices, with the consumer goods only partly touched so far.

The factory gate production prices of the non-durable consumer goods thus increased by only 6.3% YoY, those of durable goods by 11.2% YoY and the capital goods were 24.1% more expensive YoY.

(Photo source: Dreamstime.com)