Industry producer prices down by 2.9%

Provisional data indicate that the industrial producer price index in July remained stable when compared to the previous month, National Statistics Office (NSO) data revealed.

In July, the producer price index for total industry did not change over the previous month, although a slight increase of 0.1 per cent was registered in consumer goods.  The other main industrial groupings remained stable.

Producer prices for the domestic market edged up by 0.1 per cent on account of a 0.8 per cent increase in intermediate goods.  All other main industrial groupings remained unchanged. Overall, producer prices in the non-domestic market were stable. Consumer goods registered a rise of 0.1 per cent over the previous month.
Producer prices in respect of goods destined for the euro area decreased by 0.1 per cent due to a similar decline within intermediate goods.  No price changes were reported for capital and consumer goods.

In the non-domestic non-euro area, prices went up by 0.5 per cent.  This was due to a 0.5 and 0.6 per cent increase in intermediate and consumer goods respectively.  On the other hand, capital goods were practically unchanged.

Year-on-year, producer prices for total industry declined by 2.9 per cent.  During this period, producer prices for intermediate goods decreased by 5.9 per cent.  On the other hand, prices for capital and consumer goods increased by 0.9 and 1.7 per cent respectively.  No changes were registered in energy prices.

Producer prices for the domestic market edged up by 0.7 per cent. Prices for intermediate, capital and consumer goods rose by 2.0, 4.2 and 2.4 per cent respectively.

The period under review revealed that producer prices for goods destined for the non-domestic market decreased by 5.2 per cent on account of a drop in prices in the euro area of 6.2 per cent, whereas prices for goods destined for the non-domestic non-euro area increased by 2.8 per cent.