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Industrial producer prices up 4.5% in November

Industrial producer prices rose 4.5% year-on-year in November 2017, the Central Statistical Office (KSH) said in a first release of monthly data today. Prices for domestic sales were up 4.8%, while industrial export prices rose 4.4%.

Year-on-year, factory gate prices in the manufacturing sector rose by 4.7% in November. Prices in the transport equipment segment were up 5.4%, while prices in the computer, electronic and optical products segment were down 2.3%. Prices in the food, beverages and tobacco segment were up 4.4%. Prices in the gas, electricity and steam supply segment rose 2.9%.

Within domestic output prices, prices in manufacturing, representing a weight of two-thirds, rose by 6.5%, while prices in the energy industry (electricity, gas, steam and air conditioning supply), with a weight of nearly three-tenths, rose by 1.3% compared to a year earlier, the KSH data show.

Of the end-use groups of the producing branches of industry, prices increased by 5.3% in energy and intermediate producing branches, by 2.6% in capital goods producing, and by 3.9% in consumer goods producing branches in November 2017, compared to the same month of the previous year.

In industrial export output, prices rose by 4.2% in manufacturing (representing a weight of 95.1%), and by 7.8% in the energy industry (with a weight of 4.6%).

In January-November 2017, compared to the first eleven months of 2016, domestic output prices increased by 4.8% and export output prices by 2.5%, meaning that industrial producer prices as a whole were 3.2% higher year-on-year over the period.

In a month-on-month comparison, industrial producer prices in November were up 1% on the preceding month, as domestic prices were up 1% while export prices rose 0.9%.

KSH will publish data on industrial producer prices for December, as well as for the full year 2017, on January 31.