Slovakia's annual producer price growth speeds to 2.6% in February 2012.

By bne IntelliNews March 29, 2012
Slovakias annual producer price growth speeded up to 2.6% in February 2012 from 2.1% in January on the back of an 8% rise in utilities prices and a 14.8% jump in prices in the sector of manufacturing of coke and refined petroleum products, data from the statistics office showed. Industrial producer prices on the domestic market rose 3.8% y/y, speeding up from a 2.7% annual growth a month earlier, while export producer prices rose 1.7% following a 1.6% increase in January. On a monthly basis, producer prices rose 1.1% in February after a 0.3% growth in January. On the domestic market prices grew by 1.1% m/m, following a 1.2% rise in January, while export prices moved 1.1% higher after falling by 0.3% in January. Agricultural producer prices declined by 1.5% y/y in February, as a 7.3% jump in animal product prices was offset by a 14.3% drop in crops prices. Prices of construction works rose 0.1% y/y last month and prices of construction materials and components increased by 1.7%. IntelliNews comment: Producer prices are a key preliminary indicator for the dynamics in consumer price inflation in the following month. The acceleration of the producer price inflation last month indicates that higher fuel prices might push up consumer price inflation. The inflation in Slovakia is seen slowing down this year to an annual level of some 2% to 2.5% from an average annual level of 3.9% for 2011.
y/y % change Feb-12 Jan-12 2011
INDUSTRIAL PRODUCER PRICES (total) 2.6% 2.1% 4.4%
INDUSTRIAL PRODUCER PRICES (domestic) 3.8% 2.7% 2.7%
Mining 4.0% 6.4% 5.0%
Manufacturing 0.9% 1.7% 4.1%
--food, beverages and tobacco 3.1% 4.8% 5.4%
--textiles, apparel, leather and related products 3.2% 3.7% 4.0%
--wood and paper products, printing -4.8% -1.1% 1.0%
--coke and refined petroleum products 14.8% 11.3% 30.1%
--chemicals and chemical products 3.0% 2.9% 10.9%
--pharmaceutical products and preparation 9.7% 15.6% 10.1%
--rubber, plastics and other non-metallic mineral products 1.0% -0.2% 1.0%
--basic and fabricated metal products, except machinery and equipment -1.3% 1.9% 3.8%
--computer, electronics and optical products -1.4% 0.8% 0.2%
--electrical equipment 0.0% 1.9% 1.6%
--machinery and equipment 1.0% 3.7% 0.1%
--transport equipment -6.1% -6.8% -2.8%
--other manufacturing, repair and installation of machinery and equipment -0.2% 1.3% 3.0%
Electricity, gas, steam and air conditioning supply 8.0% 3.6% 0.8%
Water supply, sewerage, waste management and remediation 2.6% 3.5% 5.2%
INDUSTRIAL PRODUCER PRICES (export) 1.7% 1.6% 5.7%

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