Production costs are increasing more slowly, import prices are also decreasing

2024-12-05 15:30:00, Ekonomi CNA

Production costs continued to rise in the third quarter, but still with slower growth than in the same period a year ago. Meanwhile, the fall of the euro and the curbing of inflation in the European Union have led to a slight decrease in import prices.

INSTAT announced that in the third quarter of 2024, the Producer Price Index reached 129.2 compared to 2021 as the base period. Compared to the third quarter of 2023, the Producer Price Index increased by 1.1%, a year ago this change was 5.2%.

The Producer Price Index in the third quarter of 2024 decreased by 0.1%, compared to the second quarter of 2024.

Compared to the third quarter of 2023, the largest price increase of 3.1% is observed in the sections "Extractive industry" and "Electricity, gas, steam and air conditioning", followed by the sections "Water supply, activities of waste treatment and management" with 0.5%, "Processing Industry" with 0.3%.

Within the "Manufacturing industry" section, the largest price increase is observed in the activity "Production of beverages" with 2.9%, followed by the activities "Processing of food products" with 2.5%, "Printing and regrouping of recorded media" and "Production of electrical equipment" with 2.2%, etc.

On the other hand, the biggest decrease in prices is observed in the activity "Production of non-metallic mineral products" by 2.4%, followed by "Textile processing" by 1.2%, etc.

Index of Production Prices of products for the domestic market: Compared to the third quarter of 2023, the index increased by 1.6%. The biggest increase in prices is observed in the section "Electricity, gas, steam and air conditioning" with 4.0%, followed by the sections "Manufacturing Industry" with 0.8%, "Extractive Industry" and "Water Supply, waste treatment and management activities" with 0.6% each.

Production Price Index of products for export: Compared to the third quarter of 2023, the index recorded an increase of 0.7%. The price increase was recorded in the "Extractive Industry" section by 5.4% and the "Electricity, gas, steam and air conditioning" section by 0.3%. On the other hand, the section "Water supply, waste treatment and management activities" has recorded a decrease of 0.4%, followed by the section "Processing Industry" with 0.1%.

Cheaper imports

INSTAT announced that the Import Price Index, in the third quarter of 2024, reached 108.0 compared to 2021 as the base period.

Compared to the third quarter of 2023, the import price index decreased by 1.3%, a year ago this change was with an increase of 0.7%. The quarterly change of the import price index in the third quarter of 2024, compared to the second quarter of 2024, decreased by 0.3%.

Annual change: Import prices of products in the "Electricity, gas, steam and air conditioning" section decreased by 4.6%, followed by the "Manufacturing industry" section with the largest share of 93.5%, which recorded decrease by 1.1% and the "Extractive Industry" section, which recorded a decrease by 0.6%. On the other hand, the section "Water supply, waste treatment and management activities" recorded an increase of 0.9%.

Within the "Manufacturing industry" section, the largest price decrease is observed in the products of the activity "Clothing making" by 3.8%, followed by "Printing and regrouping of recorded media" by 3.5%, "Coke processing and petroleum by-products refinery" with 3.2%, "Manufacture of wood and wood and oak products, except furniture; production of straw and reed products" with 2.8%, "Metallurgy" with 2.1%, "Processing of food products" with 1.8%, "Production of rubber and plastic products" with 1.4% and "Textile processing" with 1.1%.

On the other hand, prices in the activity "Production of tobacco products" increased by 2.4%, followed by the activities "Production of fabricated metal products, except machines and equipment" by 2.0%, "Production of other means of transport" by 0.7%, "Production of leather and leather products" by 0.5%, etc./ Monitor Magazine