August industrial producer price index sees another drop
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Provisional data indicate that the industrial producer price index decreased by 1.6 per cent when compared with the previous month.
In August, the producer price index for total industry went down by 1.6 per cent, primarily as a result of a decrease in producer prices of 2.9 per cent in the intermediate goods sector. During this month, energy and consumer goods remained stable, while prices for capital goods decreased by 0.2 per cent.
Producer prices for the domestic market went up slightly on account of a 0.6 per cent increase in prices for intermediate goods and a 0.1 per cent increase in prices of consumer goods.
In the month under review, prices for the non-domestic market decreased by 2.6 per cent on account of a 3.1 and 0.2 per cent decline in prices for intermediate and capital goods respectively. Producer prices in respect of goods destined for the euro area decreased by 3.0 per cent, the main contributor being intermediate goods (-3.5 per cent), whereas a slight decline was recorded in prices for capital and consumer goods, both by 0.1 per cent.
On the other hand, prices in respect of goods destined for the non-euro area rose by 1.0 per cent, with the largest rise observed in intermediate goods (+1.6 per cent). Furthermore, consumer goods added 0.2 per cent, while capital goods declined by 0.4 per cent.
Year-on-year, producer prices for total industry increased by 1.1 per cent. Energy prices rose by 22.4 per cent, while capital and consumer goods went up by 0.7 and 1.0 per cent respectively. Offsetting this increase was a drop in prices for intermediate goods of 7.3 per cent.
Producer prices within the domestic market grew by 14.3 per cent as a result of increases in energy (+22.4 per cent) and capital goods (+5.2 per cent), whereas intermediate goods declined by 3.7 per cent.
Provisional data indicate that in the period under review, producer prices for goods destined for the non-domestic market went down by 6.2 per cent on account of a 7.5 per cent decline in prices of goods for the euro area. For the non-euro area, prices advanced by 6.0 per cent ?