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Industrial producer price index down by 2.3% in January

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Industrial producer price index down by 2.3% in JanuaryAccording to the National Statistics Office, provisional data indicate that the industrial producer price index in January decreased by 2.3 per cent when compared to the previous month.

In January, the producer price index for total industry decreased by 2.3 per cent over the previous month. The decline was due to a 4.4 per cent decrease in prices for intermediate goods, but mitigated by an increase of 0.1 per cent in the consumer goods sector.

General price movements in the domestic sphere edged up by 0.1 points, mainly on account of a 0.2 per cent rise in prices for non-durable consumer goods.

Producer prices in the non-domestic market decreased by 3.9 per cent, from 75.0 points in December 2012 to 72.0 points in January 2013. This was the fourth consecutive month that a downward trend was reported in prices for intermediate goods in the non-domestic sector. However, consumer goods increased by 0.1 per cent.

Producer prices in respect for goods destined for the euro area went down by 4.3 per cent, while prices for goods destined for the non-euro area decreased by 0.9 per cent.

Year-on-year comparisons indicate that producer prices for total industry declined by 0.8 per cent. During this period, producer prices for intermediate goods fell by 2.2 per cent. Offsetting this decrease were increases of 0.3 and 1.9 per cent in the capital and consumer goods respectively. No price changes were registered in energy prices.

Producer prices for the domestic market edged up by 0.9 per cent. The rise in the producer prices for the domestic market was particularly caused by rises of intermediate, capital and consumer goods by 5.4, 1.9 and 1.8 per cent respectively.

The period under review revealed that producer prices for goods destined for the non-domestic market decreased by 2.1 per cent on account of a drop in prices in the euro area by 2.5 per cent. Mitigating this decrease was a rise in prices for goods destined for the non-euro area by 1.6 per cent.

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