Be the first to comment!Industrial Producer Price Index down by 1.8% in July
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Provisional estimates show that the industrial producer price index fell by 1.8 per cent when compared with June 2009 and by 5.5 per cent when compared to the corresponding month of 2008.
Monthly comparison
Producer prices for the total industry for the month of July 2009 stood at 94.4 points, down by 1.8 per cent when compared to the previous month.
Producer prices for the Domestic market rose marginally by 0.1 per cent, on account of price increases of 0.4 and 0.7 per cent respectively in the Consumer Non-Durables and Intermediate Goods sectors. On the other hand, prices in the Capital Goods sector declined by 1.4 per cent over the previous month. No price changes were recorded in the sectors relating to Consumer Durables and Energy.
Producer prices for eurozone exports, in general, fell by 3.0 per cent as a result of price declines in all sectors, except for the Consumer Durables sector where prices remained unchanged. The Intermediate Goods sector registered the largest decline of 3.3 per cent from the previous month. Prices in the Capital Goods and Consumer Non-Durables sectors fell by 0.3 and 0.9 per cent respectively.
On the other hand, producer prices in the non-eurozone market rose marginally by 0.2 per cent over the previous month, on account of a 1.6 per cent rise in producer prices for Intermediate Goods. Producer prices for Consumer Non-Durables and Capital Goods fell by 2.5 and 0.3 per cent respectively. No change in producer prices was recorded in the Consumer Durables sector.
Annual comparison
Overall, producer prices for the total industry for the month of July fell by 5.5 per cent, from 99.8 points in July 2008 to 94.4 points this year.
When comparing July 2009 to the same month of last year, producer prices within the Domestic market registered an increase of 0.4 per cent on account of a 5.3 per cent rise in producer prices for Consumer Non-Durables. On the other hand, producer prices for Capital and Intermediate Goods fell by 12.4 and 11.7 per cent respectively.
Producer prices for the eurozone market fell by 9.2 per cent over the same month in 2008, on account of a 10.4 per cent decline in producer prices for Intermediate Goods.
On the other hand, prices in the non-eurozone export market rose by 2.5 per cent, as a result of price increases in all sectors, with the exception of Consumer Durables, where no price change was recorded. Price increases ranged from 1.3 per cent for Capital Goods to 3.9 per cent for Consumer Non-Durables.
