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Producer and import prices, which were 2.1 percent in March, increased by 1.0 percent compared to the same month of the previous year.
According to the Federal Statistical Office’s (FSO) statement on Monday, import prices in April were even 0.9 percent below the April 2022 level. Meanwhile, domestic prices increased by 2.9 percent.
The so-called composite index (PPI) of producer and import prices peaked at 6.9 percent in May and June 2022 and has fallen for most months since. Producer prices were even lower when they were last slightly negative at -0.2 percent in March 2021.
In March, the general index increased by 0.2 percent compared to the previous month and became 109.5 points. Petroleum products became cheaper, especially as higher prices had to be paid for machinery.
The PPI is considered a leading indicator for the development of consumer prices, because production costs are often reflected in consumer prices. However, it has significantly higher fluctuations and is much more volatile due to the high dependence on raw materials.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
