Macedonia’s industrial producer prices fall 0.7% y/y in June 2014

By bne IntelliNews July 14, 2014

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      
  May'14 Jun'14 H1'14
PPI  -0.2 -0.7 -1.5
Main Industrial Groups      
- Energy 2.3 0.6 -1.8
- 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
Sections      
- Mining and quarrying 10.5 10.5 7.8
- Manufacturing -0.6 -0.9 -1.8
- Utilities -0.5 -2.3 -2.5
Source: Statistics office      
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