Macedonia’s industrial PPI deflation softens to 3.3% y/y in February

By bne IntelliNews March 30, 2015

Macedonia's industrial producer prices decreased 3.3% y/y in February, softening from a 6.1% drop in January on the back of smaller price decline in manufacturing and higher price growth in utilities, statistics office data showed. Compared to the previous month, prices were 0.1% higher in February.

Prices in manufacturing went down 5.3% y/y in February, after contracting 8.3% y/y in January. Within manufacturing, the highest price increase was recorded in leather and related products (+8.2% y/y in February). On the other hand, the deepest decline was reported in the manufacturing of coke and refined petroleum products (-20.9% y/y).

Producer prices in utilities rose 5% y/y in February, accelerating from a 2.4% y/y growth the month before.

On the other hand, prices in mining went up 9.2% y/y in February, slowing down from an 11.9% y/y growth the month before.

Across main industrial groups, February producer prices were higher y/y in durable consumer goods (+0.7%) and non-durable consumer goods (also +0.7%), but lower y/y in energy (-8.8%), intermediate goods except energy (-1.3%) and capital goods (also -1.3%).

Industrial PPI, % y/y      
  Jan'15 Feb'15 Jan-Feb'15
PPI  -6.1 -3.3 -3.6
Main Industrial Groups      
- Energy -12.3 -8.8 -8.7
- Intermediate goods except energy -2.0 -1.3 -1.1
- Capital goods -4.3 -1.3 -2.3
- Durable consumer goods -2.1 0.7 0.6
- Non-durable consumer goods -2.4 0.7 -0.3
Sections      
- Mining and quarrying 11.9 9.2 9.1
- Manufacturing -8.3 -5.3 -5.6
- Utilities 2.4 5.0 5.4
Source: Statistics office      
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