Slovakia's producer prices grow 3.8% y/y in Nov 2011.

By bne IntelliNews January 2, 2012
Slovakias annual producer price growth for November 2011 steadied at 3.8% for a third month in a row, data from the statistics office showed. Industrial producer prices on the domestic market grew 3.1% y/y in November after climbing 3% y/y a month earlier, while export producer prices rose 4.3% following a 4.4% growth in October. On a monthly basis, producer prices remained flat, following a 0.1% increase in October. On the domestic market prices grew 0.2%, slowing down from a 0.5% rise in October, while export prices fell further by 0.1% in November after easing 0.3% in the previous month. Producer prices growth is also seen slowing down next year to about 2% to 2.5% on average, according to Postova Banka analyst Eva Sadovska. In November, agricultural prices slipped 0.6% y/y, as a 6.5% drop in crops prices could not be offset by a 9% jump in animal product prices. Since the beginning of the year, agricultural products grew 19.5% on average mainly due to a surge in crops prices. Prices of construction works rose 0.9% y/y in November and registered a 1.2% average growth for the first 11 months of the year. Prices of construction materials and components increased by 1.3% in November and by 1.8% on average since the beginning of the year. IntelliNews comment : Producer prices are a key preliminary indicator for the dynamics in consumer price inflation in the following month. In November, consumer prices grew 0.5% m/m and 4.6% y/y and we can expect roughly the same figures for December. The annual consumer price inflation is projected at around 4.5% in 2011 and halving by the end of next year.
y/y % change Nov-11 Oct-11 Jan-Nov-11
INDUSTRIAL PRODUCER PRICES (total) 3.8% 3.8% 4.5%
INDUSTRIAL PRODUCER PRICES (domestic) 3.1% 3.0% 2.7%
Mining 7.9% 6.3% 4.6%
Manufacturing 3.6% 3.8% 4.1%
--food, beverages and tobacco 5.8% 5.6% 5.5%
--textiles, apparel, leather and related products 5.3% 4.9% 4.0%
--wood and paper products, printing -0.6% -1.1% 1.2%
--coke and refined petroleum products 26.3% 26.3% 30.6%
--chemicals and chemical products 10.8% 11.1% 11.0%
--pharmaceutical products and preparation 12.7% 12.6% 9.9%
--rubber, plastics and other non-metallic mineral products 1.2% 1.3% 1.0%
--basic and fabricated metal products, except machinery and equipment 2.0% 2.4% 4.0%
--computer, electronics and optical products 0.9% 0.5% 0.1%
--electrical equipment 1.5% 1.4% 1.8%
--machinery and equipment 2.4% 2.1% -0.1%
--transport equipment -4.1% -2.7% -2.5%
--other manufacturing, repair and installation of machinery and equipment 2.3% 2.4% 3.1%
Electricity, gas, steam and air conditioning supply 2.2% 1.8% 0.7%
Water supply, sewerage, waste management and remediation 4.4% 4.5% 5.3%
INDUSTRIAL PRODUCER PRICES (export) 4.3% 4.4% 6.1%

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