EU chemical prices rise 5.8% in February year-on-year

LONDON (CNI)--Chemical prices in the European Union (EU) rose sharply once again in February, increasing 5.8% year-on-year in both the 25-member EU and 12-member eurozone, according to figures released by official statistics agency Eurostat on Monday.

Year-on-year growth peaked in November and December at four-year highs with increases of 6.5% in the EU and 6.7% in the eurozone.

Chemicals prices rose by 0.5% in both the EU and eurozone countries from January to February.

Overall industrial producer prices soared by 5.0% in the EU and 4.2% in the eurozone in February 2004 compared with the same month last year. Month-on-month, prices increased 0.4% in both the EU and eurozone countries.  

European industrial producer prices  

	February 2005 vs February 2004 (%)	February 2005 vs January 2004 (%)
EU chemicals	+5.8	+0.5
Eurozone chemicals	+5.8	+0.5
EU industry	+5.0	+0.4
Eurozone industry	+4.2	+0.4

Source: Eurostat

Member states of the EU are Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Slovenia, Slovakia, Spain, Sweden, The Netherlands and the UK.

The 12 eurozone members are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain.