Macedonia's industrial producer prices decreased by 3.8% y/y in December after rising by 0.6% y/y in November, reflecting a much deeper price decline in manufacturing and slower price growth in utilities and mining, statistics office data showed. Last year, the annual growth of industrial PPI has been positive in only three months – August, October and November. As a result, the index was 1.2% lower on average in 2014. Compared to the previous month, prices were 3.7% lower in December.
Prices in manufacturing went down 6.1% y/y in December, after contracting by 0.9% y/y in November. Within manufacturing, the highest price increase was recorded in other non-metallic mineral products (+6.1% y/y in December). On the other hand, the deepest decline was reported in the manufacturing of coke and refined petroleum products (-21.8% y/y).
In addition, producer prices in utilities grew 6.2% y/y in December, slowing down from a 7.4% y/y rise the month before. In mining, prices rose 10.4% y/y last month, easing from a 10.5% y/y growth in November.
In terms of industrial groups, December producer prices were higher y/y in durable consumer goods (+2.5%) and intermediate goods except energy (+0.5%). Producer prices fell y/y in energy (-9%), capital goods (-6%) and non-durable consumer goods (-1.2%).
| Industrial PPI, % y/y | |||
| Nov'14 | Dec'14 | 2014 | |
| PPI | 0.6 | -3.8 | -1.2 |
| Main Industrial Groups | |||
| - Energy | 3.0 | -9.0 | -1.0 |
| - Intermediate goods except energy | 0.5 | 0.5 | 0.2 |
| - Capital goods | -7.5 | -6.0 | -2.5 |
| - Durable consumer goods | 0.7 | 2.5 | 0.7 |
| - Non-durable consumer goods | -1.2 | -1.2 | -2.0 |
| Sections | |||
| - Mining and quarrying | 10.5 | 10.4 | 9.2 |
| - Manufacturing | -0.9 | -6.1 | -2.0 |
| - Utilities | 7.4 | 6.2 | 1.1 |
| Source: Statistics office |
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