Thus, the general index of producer and import prices (PPI) fell for the fourth month in a row on an annual basis. Before that he only knew one direction and that was it. In May and June, PPI inflation peaked at 6.9 percent. However, annual import prices still rose 7.7 percent in October, while domestic prices rose only 3.4 percent.
In October, producer and import prices general index (PPI) stagnated at 109.8 points compared to the previous month. The figures released Monday by the Federal Statistics Office (BFS) showed that prices for mineral oil products fell, especially as natural gas became more expensive. The producer prices sub-index rose slightly (+0.1%), while the import prices sub-index fell slightly (-0.2%).
According to the information obtained, the main reason for the increase in the producer price index compared to the previous month was the increase in gas and machinery prices. Rising prices would also show success in surface finishing, heat treatment, and mechanical and electrical equipment. According to BFS, mineral oil products, metals, semi-finished metal products, steel and light metal construction products became cheaper.
When it comes to the import price index, statisticians have noted price decreases for lubricant products compared to September 2022. Metals and semi-finished metals, computers and peripherals, machinery, metal products, and electrical distribution and switching equipment also showed falling prices.
The PPI is considered a leading indicator for the development of consumer prices, as production costs are often reflected in consumer prices. However, it has significantly higher emissions and is much more variable due to the high dependence on raw materials.
(SDA)