site.btaIndustry Producer Prices Edge Up in August from July 2023

The Total Producer Price Index in Industry rose by 0.2% in August 2023, month on month, the National Statistical Institute reported on Friday.

Compared to July, producer prices in August 2023 rose by 1.2% in the manufacturing industry while falling by 2.4% in the electricity, gas, steam and air conditioning supply prices fell by 2.4%, and by 2.2% in the mining and quarrying industry.

In manufacturing, higher producer prices were reported by the manufacture of leather and related products, 12.2%, and the manufacture of chemicals and chemical products, 3.6%. Lower prices were recorded in the manufacture of textiles, 1.4%, and in the manufacture of paper and paper products, 1.0%.

The Total Producer Price Index went down by 20.4% in August 2023 compared to August 2022. Prices in electricity, gas, steam and air conditioning supply declined by a substantial 51.9% while rising by 3.0% in the mining and quarrying industry and by 0.2% in the manufacturing industry.
 
In manufacturing, prices grew considerably in the manufacture of tobacco products, by 45.0%, and in the manufacture of other non-metallic mineral products, by 18.1%. The most significant decline in prices was reported in the manufacture of chemicals and chemical products, 17.5%, and in the manufacture of basic metals, 7.6%.