Be the first to comment!Industrial Producer Price Index down 8.5% in 12 months
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Provisional estimates show that the October industrial producer price index went down by 0.1 per cent when compared to September 2009 and by 8.5 per cent when compared to the corresponding month last year.
Monthly comparison
The October producer price index for total industry showed a slight decline of 0.1 per cent when compared to September 2009. This decline was mainly the result of a drop in producer prices for the Capital and Intermediate Goods sectors, where prices fell by 0.3 and 0.2 per cent respectively. Producer prices for the other main industrial groups remained stable.
Producer prices for the Domestic market decreased by 0.1 points on account of price declines in the Consumer Non-Durables and Intermediate Goods sectors, of 0.1 per cent and 1.2 per cent respectively, while prices in the other main industrial groups revealed no price changes.
Similarly, the total exports market registered a 0.1 per cent decline in producer prices, mainly on account of a drop in producer prices in the eurozone market (-0.1 per cent). The decline in producer prices geared for the eurozone market was mainly due to a fall in prices in the Capital and Intermediate Goods sectors, of 0.4 and 0.1 per cent respectively.
Annual comparison
Producer prices for total industry for October fell by 8.5 per cent, from 103.3 points in October 2008. Underpinning this result was a drop in producer prices for Capital Goods, Energy, and Intermediate Goods, of 2.1, 10.4 and 9.7 per cent respectively. This decline was partly mitigated by an increase in prices for Consumer Durables and Consumer non-Durables, of 0.2 and 0.3 per cent respectively. Year-on-year, producer prices within the Domestic market fell by 8.5 per cent, resulting from producer price declines in Capital Goods (-15.0 per cent), Energy (-10.4 per cent) and Intermediate Goods (-6.4 per cent). On the other hand, Consumer Durables and Consumer Non-Durables prices rose by 0.7 and 2.1 per cent respectively.
The period under review revealed that producer prices for total exports were down by 8.6 per cent, mainly on account of a 9.4 per cent decline in prices within the eurozone market. Producer prices for Intermediate Goods in respect of this market fell by 10.7 per cent from October 2008.
