Bulgaria's domestic market PPI dropped 3.9% y/y in October, deepening from a 3.5% y/y contraction the month before, statistics office data showed. In monthly terms, the industrial producer price index edged down 0.2%. The falling PPI is also being translated into sustained CPI deflation. The CPI shrank 1.4% y/y in October following a 1.6% y/y contraction the month before.
October prices of manufacturing output fell 3.1% y/y, dragged down for the third month in a row by declining prices of base metals (-7.3%), food (-3.7%), chemical products (-2.8%), electrical installations (-1.3%) and paper and carton (-0.3%). On a monthly basis, manufacturing prices slipped 0.26% in October.
Producer prices in the mining and quarrying sector dropped 10.3% y/y. Metal ore extraction charges decreased 20.3% y/y, whereas coal extraction costs went up 8.6% y/y. Compared to the previous month, October's mining and quarrying prices were 0.21% lower. Electricity, heat and gas prices fell 4.9% y/y and 0.2% m/m.
In October, the broader PPI index (sales abroad included) decreased 4.2% y/y and 0.3% m/m.
In 2012, producer price growth decelerated to 5.3% on average from 8.7% in 2011. The average price growth was the highest in the utilities sector (8.1%).
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