Producer prices down y.o.y., up since June

Figures

Industrial producer prices edged down by 0.3% in July from a year earlier, after declining 0.6% in June, the Central Statistics Office (KSH) said yesterday.

In a month-on-month comparison, producer prices inched up 0.5% as domestic prices were up 0.2% and export prices rose 0.6%.

The month-on-month increase is an encouraging sign that prices are headed in the right direction. After continuously dropping prices, analysts have been watching consumer prices, but also producer prices, for signs of deflation.

Compared with a year ago in July, domestic producer prices fell 2.5% and export prices rose 1.0%. Year on year, factory gate prices in the manufacturing sector rose 1.3%. Prices in the transport equipment segment rose 3.8%, and prices in the computer, electronic and optical products segment dropped 7.2%. Prices in the food, beverages and tobacco segment inched up 0.8%. Prices in the gas, electricity and steam supply segment were down 9.3%.

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