Serbia's industrial producer price index (PPI) on the domestic market edged up 0.5% y/y in October 2013, slowing down from a 1.6% y/y hike in September on falling manufacturing and mining and quarrying producer costs, the statistics office said in a statement on November 5. In monthly terms, the PPI fell 0.7% in October after inching down 0.4% the month before. Compared to the 2012 monthly average, the reading was up 3.6%, the office said.
Manufacturing prices contracted 1.5% y/y in October following a 0.2% y/y drop in September. Falling coke and petroleum products, basic metals, food and motor vehicles producer prices offset rising beverages, tobacco, wood and pharmaceutical products producer charges.
Prices in the mining and quarrying sector, likewise, continued retreating, shrinking 11.3% y/y in October after a 10.8% y/y decline in September. The reading was dragged down by falling metal ores, coal and lignite and crude petroleum and natural gas extraction costs.
Prices of water supply, sewerage and waste management recorded the strongest annual growth of 21.3% in October, despite easing from a 22.9% y/y rise the month before. Utilities charges climbed 10.4% y/y in October, also slowing from a 10.7% annual hike in September.
The statistics office will publish data on the broader industrial producer price index, which includes domestic and export sales, on November 7.
Falling supply side pressures on prices will likely translate into further decline of the CPI inflation. The CPI eased to 4.9% y/y in September from 7.3% y/y the month before, falling within the central bank’s target tolerance band of 2.5-5.5% for the first time since June 2012.
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