Macedonia's industrial producer prices decreased 0.7% y/y in June 2014, after edging down 0.2% y/y in May, statistics office data showed. The wider annual contraction last month reflects deeper price declines in manufacturing and utilities.
June is the 11th month in a row in which producer price deflation has been recorded. In H1 2014, industrial producer prices decreased by 1.5% y/y on average. Compared to the previous month, producer prices eased 0.2% in June.
Prices in manufacturing went down 0.9% y/y last month, after falling 0.6% y/y in May. Within manufacturing, the highest price increase took place in other non-metallic mineral products (up 8.1% y/y in June), while the deepest decline was reported in tobacco products manufacturing (down 8.1% y/y). Producer prices in utilities dropped 2.3% y/y in June, after declining 0.5% y/y the month before.
The annual growth of mining prices was 10.5% last month, unchanged from May.
In June, producer prices were lower y/y in just one group – non-durable consumer goods (down 2.5%), but this was sufficient to keep the total index in negative territory. Producer prices increased y/y in all other groups, including energy (up 0.6%), intermediate goods except energy (up 0.2%), capital goods (up 2%) and durable consumer goods (up 0.5%).
|Industrial PPI, % y/y|
|Main Industrial Groups|
|- Intermediate goods except energy||0.1||0.2||-0.2|
|- Capital goods||2.3||2.0||-0.7|
|- Durable consumer goods||0.5||0.5||0.1|
|- Non-durable consumer goods||-2.7||-2.5||-2.1|
|- Mining and quarrying||10.5||10.5||7.8|
|Source: Statistics office|
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