Provisional data published by the National Statistics Office (NSO) indicate that the industrial producer price index in July decreased by 2.9 per cent when compared to the previous month.
In July, the producer price index for total industry declined by 2.9 per cent over the previous month, due to decreases in intermediate goods and capital goods by 5.4 and 0.1 per cent respectively. No changes were recorded in the other main industrial groupings.
The domestic index moved marginally downwards by 0.1 per cent. The change was due to a decrease in intermediate goods by 0.4 per cent.
The non-domestic sector was characterised by a drop of 4.9 per cent, with the major contributor being intermediate goods (-5.9 per cent).
Producer prices in respect of goods destined for the euro area went down by 5.5 per cent, while prices for goods destined for the non-euro area edged up by 0.1 per cent.
On an annual basis, the producer price index decreased from 97.1 to 94.7 points, or by 2.4 per cent. The downturn resulted from price drops in intermediate goods (-4.8 per cent) and capital goods (-0.7 per cent). On the other hand, consumer goods rose by 1.0 per cent. No price change was registered for energy.
Producer prices for the domestic market edged up by 0.5 per cent, resulting in part from an increase in prices for intermediate and consumer goods by 1.9 and 1.4 per cent respectively. These were mitigated by a decline of 2.5 per cent in prices for capital goods.
Non-domestic prices decreased by 4.4 per cent, as goods destined for the euro and noneuro area registered a drop in prices of 4.8 and 1.5 per cent respectively.
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