In May 2024, the Producer Price Index for Industrial Products decreased by 0.2% compared to the previous month, while compared to May 2023 the index increase amounted to 6.7%, the National Statistics Service (GeoStat) reported.

According to Geostat, the prices for products from mining and quarrying increased by 3.4% compared to April 2024, resulting in a 0.21 percentage point contribution to the overall monthly PPI change. In the same period, the prices for manufactured products increased by 0.1 %, contributing 0.11 percentage points to the monthly index change. Within the group, noteworthy price increases were registered for food products (1.7 %) and for basic metals (1.4 %). Along with this, the prices decreased for electricity, gas, steam and air conditioning by 5.4 %, contributing -0.58 percentage points to the monthly index change.

“The annual PPI rate was mainly affected by price changes for the following products:

Products from mining and quarrying: the prices were 23.6 % higher, contributing 1.36 percentage points to the overall annual index change. Within the group the prices were higher for the subgroup of metal ores (25.4 percent);

Manufactured products: the prices increased by 5.3 %, contributing 4.31 percentage points to the overall annual index increase. There was a notable increase in the prices for the following subgroups: food products (9.3 %) and beverages (8.1 %);

Electricity, gas, steam and air conditioning: the annual price increase amounted to 9.0 %, which contributed 0.81 percentage points to the annual index change;

Water supply, sewerage, waste management and remediation services: the annual price increase amounted to 10.2 %, which contributed 0.25 percentage points to the annual index growth,” the Geostat reported.