Increase in industrial producer price index recorded

Provisional data indicate that the industrial producer price index in June increased by 0.97 per cent over the previous month.

The Producer Price Index (PPI) measures the average changes in prices received by domestic producers for their output.

During June, the producer price index for total industry increased by 0.97 per cent to 95.82 points, according to the National Statistics Office. The most significant increase was in the intermediate goods sector, where prices rose by 2.16 per cent. Capital goods rose by 0.15 per cent while consumer goods decreased by 0.01 per cent.

Prices within the domestic market increased marginally by 0.04 per cent, brought about by a rise in prices of 0.21 per cent within intermediate goods and a drop of 0.03 per cent within consumer goods.

Prices for the non-domestic market increased by 1.65 per cent, as prices in respect of goods destined for the non-euro area and the euro area rose by 1.95 and 1.15 per cent respectively.

On an annual basis, the industrial producer price index decreased by 3.00 per cent. The downturn resulted from price decreases in intermediate goods (-3.50 per cent), energy (-6.98 per cent) and consumer goods (-2.03 per cent). However, prices for capital goods increased by 1.29 per cent.

Producer prices for the domestic market decreased by 1.93 per cent, mainly on account of a drop in the producer prices of the energy sector. In contrast, price increases of 3.06 and 0.74 per cent were recorded in capital and consumer goods respectively.

During the period under review, non-domestic prices decreased by 3.76 per cent, resulting from declines of 5.22 and 1.24 per cent within the non-euro and the euro area respectively.