Back Energy prices on the rise in the euro area in 2021

10‑02‑2022

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Between December 2020 and December 2021, the import price for energy* in the euro area more than doubled (115%). The domestic producer prices for energy increased by almost three quarters (73%). This development is in sharp contrast to the relative price stability for energy import prices between 2010 and 2019 (in 2020, prices dropped by 31%) and the relatively low annual increase of domestic producer prices for energy of 0.9% between 2010 and 2019 (in 2020, energy producer prices fell by almost 10%).

This information comes from data on industrial import and producer prices published by Eurostat recently. 

The recent development is quite unprecedented. Energy import prices, while rather volatile, did not change by more than around 30% during a year in the past; domestic producer prices did not change by more than around 10% per year.

Consumer prices for electricity, gas and other fuels increased by 25% between December 2020 and December 2021. 

Timeline: energy prices in the euro area, 2021, monthly data, unadjusted (2015=100)

Source datasets: sts_inppd_m, sts_inpi_m, and prc_hicp_midx

This article is being published on the occasion of the EU Industry Days. This is a flagship annual event, highlighting industrial frontrunners and ongoing industrial policy discussions whilst improving the knowledge base of European industry.

* Energy import prices exclude water supply, sewerage, waste management.

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