The largest annual increases among EU member states were recorded in Bulgaria (+19.3%), Romania (+13.5%) and Lithuania (+12.3%). Estonia recorded an annual increase of 0.7%.

Meanwhile, Luxembourg was the only EU country to register an annual decline, with producer prices falling by 3.2%.

Across the EU, industrial producer prices rose by an average of 5.7% year-on-year in May, while the euro area recorded an average increase of 5.9%.

Compared with the previous month, April, producer prices increased by 0.2% in both the EU and the euro area.

Month-on-month, producer prices rose in 17 EU member states. The largest increases were recorded in Cyprus (+3.6%), Ireland (+2.8%), the Netherlands (+1.9%), Estonia and Sweden (both +1.8%), as well as Latvia (+1.4%).

Producer prices declined in eight member states, with the sharpest decreases recorded in Croatia (-2.1%), Hungary (-1.3%) and Italy (-0.5%). In Denmark and Malta, producer prices remained unchanged from April, while Lithuania recorded a modest monthly increase of 0.1%.