Slovakia's producer prices fall 0.7% y/y in June 2013

By bne IntelliNews July 26, 2013

Slovakia’s industrial producer prices moved lower on annual basis for the fourth straight month in June 2013 but the decline softened a bit to 0.7% from 1% in May, data from the statistics office showed. The producer price deflation recorded in March 2013 was the first since April 2010.

Industrial producer prices on the domestic market decreased by 0.3% y/y in June, the same as in the previous month. The biggest drop was recorded in the manufacturing of coke and refined petroleum products, where prices fell 6.2% y/y following a 9.9% plunge in May. Export producer prices fell 1% y/y, softening from a 1.4% y/y decline in May.

Producer prices are a key preliminary indicator for the dynamics in consumer prices, so the data suggests that consumer inflation would remain muted in the near term. In June, Slovakia’s annual headline inflation hit a two-and-a-half year low of 1.6%.

On a monthly basis, producer prices eased 0.2% in June following a 0.4% fall in May. On the domestic market, prices were 0.2% lower m/m in June after falling 0.6% in the previous month. Export prices fell 0.3% m/m, at the same rate as in May.

The annual growth in agricultural producer prices accelerated slightly to 4.2% in June from to 4.1% the month before, as prices of animal products returned to growth after three consecutive months of declines, offsetting a further easing of the crops price growth, which decelerated for the fourth month in a row.

Prices of construction works rose 1.1% y/y in June, while prices of construction materials and components edged down 0.1% y/y.

y/y % change June-13 May-13 Jan-June 2013 2012
INDUSTRIAL PRODUCER PRICES (total) -0.7% -1.0% -0.1% 2.0%
INDUSTRIAL PRODUCER PRICES (domestic) -0.3% -0.3% 0.9% 3.9%
Mining and quarrying -0.5% 0.9% 2.1% 5.1%
Manufacturing -0.5% -0.7% 0.8% 1.3%
--food, beverages and tobacco 2.6% 2.5% 2.8% 1.9%
--textiles, apparel, leather and related products 1.3% 2.4% 1.4% 1.1%
--wood and paper products, printing -1.0% -1.3% -0.9% -3.3%
--coke and refined petroleum products -6.2% -9.9% -3.2% 10.6%
--chemicals and chemical products -1.9% -4.8% -1.9% 2.5%
--pharmaceutical products and preparation 2.1% 2.0% 2.0% 3.6%
--rubber, plastics and other non-metallic mineral products -0.2% 0.1% -0.2% 0.4%
--basic and fabricated metal products, except machinery and equipment -2.7% -2.5% -2.3% -1.6%
--computer, electronics and optical products 3.3% 3.0% 2.4% -0.8%
--electrical equipment -1.6% -1.2% -0.8% 0.4%
--machinery and equipment 8.5% 6.3% 7.0% 2.6%
--transport equipment -0.9% 1.0% 1.9% -3.5%
--other manufacturing, repair and installation of machinery and equipment 2.8% 5.6% 7.6% 5.8%
Electricity, gas, steam and air conditioning supply -0.1% 0.0% 0.9% 7.3%
Water supply, sewerage, waste management and remediation 1.4% 1.5% 4.1% 4.9%
INDUSTRIAL PRODUCER PRICES (export) -1.0% -1.4% -0.8% 0.7%
         
AGRICULTURAL PRODUCER PRICES 4.2% 4.1% 7.3% 6.9%
--Crop products 10.2% 14.4% 21.2% 9.3%
--Animal products 0.4% -0.3% -0.4% 4.0%
         
CONSTRUCTION WORK PRICES 1.1% 0.6% 0.7% 0.6%
CONSTRUCTION MATERIALS PRICES -0.1% -0.4% 0.2% 1.5%
Source: Statistical Office of the Slovak Republic        

Related Articles

Jaguar Land Rover Slovakia searches for 1,000 employees amid dearth of available workers

Carmaker Jaguar Land Rover Slovakia on October 2 launched a recruitment campaign amid a low unemployment environment in which ... more

Slovakia's soars six places in WEF's Global Competitiveness Report

Slovakia rose six places to 59th place in the World Economic Forum’s 2017-18 Global Competitiveness Report, the fourth year it has climbed the ... more

Amendment to coalition deal ends Slovakia’s government crisis

Slovakia’s government crisis was definitively brought to an end on September 11 when the governing coalition’s three party leaders inked an amendment to their deal to rule together. The crisis ... more

Dismiss