Macedonia’s industrial PPI drops 6.1% y/y in January

By bne IntelliNews March 2, 2015

Macedonia's industrial producer prices dropped 6.1% y/y in January, deepening from a 3.8% y/y decline in December, reflecting a larger price decline in manufacturing and slower price growth in utilities, statistics office data showed. Compared to the previous month, prices were 0.6% lower in January.

Prices in manufacturing went down 8.3% y/y in January, after contracting by 6.1% y/y in December. Within manufacturing, the highest price increase was recorded in other non-metallic mineral products (+7.7% y/y in January). On the other hand, the deepest decline was reported in the manufacturing of coke and refined petroleum products (-25.2% y/y).

In addition, producer prices in utilities grew 2.4% y/y in January, slowing down from a 6.2% y/y rise the month before. On the other hand, prices in mining rose 11.9% y/y in the first month of 2015, accelerating from a 10.4% y/y growth in December.

January producer prices were lower y/y across all main industrial groups, including energy (-12.3%), intermediate goods except energy (-2%), capital goods (-4.3%), durable consumer goods (-2.1%) and non-durable consumer goods (-2.4%).

Industrial PPI, % y/y      
  Nov'14 Dec'14 Jan'15
PPI  0.6 -3.8 -6.1
Main Industrial Groups      
- Energy 3.0 -9.0 -12.3
- Intermediate goods except energy 0.5 0.5 -2.0
- Capital goods -7.5 -6.0 -4.3
- Durable consumer goods 0.7 2.5 -2.1
- Non-durable consumer goods -1.2 -1.2 -2.4
Sections      
- Mining and quarrying 10.5 10.4 11.9
- Manufacturing -0.9 -6.1 -8.3
- Utilities 7.4 6.2 2.4
Source: Statistics office      
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