Slovakia’s producer prices fall 3.4% y/y in June 2014

By bne IntelliNews July 28, 2014

Slovakia’s industrial producer prices fell on an annual basis for the sixteenth straight month in June 2014, decreasing by 3.4% after dropping 3.3% in May, data from the statistics office showed.

Industrial producer prices on the domestic market shrank 3.3% y/y in June, softening from an annual fall of 3.6% the month before. Like in May, the steepest drop was recorded in the chemicals and chemical products, where prices shrank 4.9% y/y. In May, prices of chemicals and chemical products fell by an annual 4%.

Export producer prices declined 3.4% y/y in June following a 3.1% y/y decrease in the previous month.

On a monthly basis, producer prices fell 0.3% in June reversing a 0.1% increase in May. On the domestic market, prices were 0.1% higher m/m in June, while in May they rose 0.3% on the month. Export prices fell 0.6 % from May when they stayed flat on the month.

The annual decline in agricultural producer prices narrowed to 5.2% in June from 5.8% the month before. Crop prices dropped 11.7% y/y, softening from a 15.8% y/y decline in the previous month. Prices of animal products fell 0.5% y/y last month, following a 0.3% y/y drop in May.

Prices of construction works rose 0.9% y/y in June, while prices of construction materials and components dropped 3.8/ % y/y.

y/y % change June -14  May-14 Jan-June-14 2013
INDUSTRIAL PRODUCER PRICES (total) -3.4% -3.3% -3.4% -1.0%
INDUSTRIAL PRODUCER PRICES (domestic) -3.3% -3.6% -3.6% -0.1%
Mining and quarrying 0.1% -0.1% 0.4% 0.2%
Manufacturing -1.4% -1.4% -2.0% -0.3%
--food, beverages and tobacco -2.2% -2.1% -2.0% 1.7%
--textiles, apparel, leather and related products 2.6% 1.4% 2.4% 1.8%
--wood and paper products, printing -0.2% -0.4% 0.0% -0.6%
--coke and refined petroleum products -2.2% -1.0% -6.5% -5.5%
--chemicals and chemical products -4.9% -4.0% -5.0% -2.9%
--pharmaceutical products and preparation -0.2% -0.2% -0.1% 2.8%
--rubber, plastics and other non-metallic mineral products -1.5% -1.7% -1.1% -0.3%
--basic and fabricated metal products, except machinery and equipment -2.3% -3.0% -2.9% -2.7%
--computer, electronics and optical products -2.1% -1.9% -1.4% 1.9%
--electrical equipment -2.8% -2.9% -2.9% -1.8%
--machinery and equipment -2.4% -1.6% -0.5% 5.5%
--transport equipment 0.0% -0.4% -0.6% 0.6%
--other manufacturing, repair and installation of machinery and equipment 0.7% 0.4% 1.0% 4.3%
Electricity, gas, steam and air conditioning supply -6.3% -6.9% -6.3% -0.1%
Water supply, sewerage, waste management and remediation 1.4% 1.4% 1.5% 2.7%
INDUSTRIAL PRODUCER PRICES (export) -3.4% -3.1% -3.2% -1.4%
         
AGRICULTURAL PRODUCER PRICES -5.2% -5.8% -8.4% -4.9%
--Crop products -11.7% -15.8% -19.3% -8.1%
--Animal products -0.5% -0.3% -0.8% -0.7%
         
CONSTRUCTION WORK PRICES 0.9% 1.1% 1.4% 0.7%
CONSTRUCTION MATERIALS PRICES -3.8% -3.1% -3.0% -0.8%
Source: Statistical Office of the Slovak Republic        

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