site.btaProducer Prices in Industry Continue to Decline Steadily in January-June 2023 - Statistics

Producer prices in industry, which are an early indicator of inflation, continued to decline steadily on a monthly basis from January to June, while on an annual basis the trend has been maintained for the third month, the National Statistics Institute said on Friday.

The Total Producer Price Index in Industry decreased by 1.3% in June 2023 compared to the previous month. Lower prices were registered in the electricity, gas, steam and air conditioning supply by 5.2%. An increase of 1.1% was recorded in the mining and quarrying industry, while no change in prices was observed in manufacturing.

In manufacturing, prices grew by 1.1% in the manufacture of motor vehicles, trailers and semi-trailers, while in the manufacture of basic pharmaceutical products and pharmaceutical preparations an increase of 0.8% was recorded. Prices in the manufacture of furniture and in other manufacturing grew by 0.7%.

In the manufacture of chemicals and chemical products prices fell by 4.6%, while in the manufacture of basic metals they fell by 3.7%.

The Total Producer Price Index went down by 10.9% in June 2023 compared to the same month in 2022. In electricity, gas, steam and air conditioning supply prices fell by 24.7%, in manufacturing - by 5.5%, and in the mining and quarrying industry - by 4.2%.