Montenegro's producer prices down 0.3% y/y in May.

By bne IntelliNews June 18, 2012
The downward trend in PPI continued in May as the decline in producer prices accelerated to 0.3% on the year from an annual drop of 0.2% in April and 1.5% in March, statistics office data showed. Following 20 months of positive growth, the trend reversed and producer prices in industry turned to annual drop in Jan. Producer prices in the manufacturing sector inched down by an annual 0.5%, down from April's 0.2% annual decline. The drop was mainly due to lower chemicals, basic metals and furniture manufacturing prices. All remaining sectors posted annual increases. Prices in the mining industry remained unchanged in May, following an annual drop of 2.9%. Utilities prices also registered the same increase as a month ago - 0.4% year-on-year. On a monthly basis, the producer price index lost 0.2%. The cumulative producer price decline for the first five months was 0.7% on the year as mining industry prices posted an annual drop of 0.3% and utility stepped down by 3.6% on the year. Manufacturing producer prices rose in Jan-May by 3.6% on the year.
Industrial Producer Prices*, % y/y
February March April May
TOTAL -0.8 -1.5 -0.2 -0.3
Mining and quarrying -2.9 -2.9 -2.9 0
Processing industry 1.4 0.4 -0.2 -0.5
-Foods 5.9 3.6 -0.2 0
-Beverages 8.4 4.6 1.5 1.5
-Tobacco 63 50 50 50
-Apparel 0 0 0 0
-Wood products, cork and similar 0.5 0.6 2.7 0.2
-Chemicals -0.8 -0.9 -0.9 -0.9
-Basic pharmaceutical products and preparations -3.8 9.1 9.1 0
- Basic metals -3.8 -4.3 -4.3 -4.3
-Metal goods, excl. machinery 8.3 8.3 8.3 8.3
-Other machinery and equipment 0 0 0 0
Electricity, gas and water supply -6.1 -6.1 0.4 0.4
Source: Statistical office of Montenegro
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