Producer prices for manufactured products fell by 0.4 per cent in May 2024 year-on-year

Product groups affecting the changes in indices

Producer prices for manufactured products fell by an average of 0.4 per cent from a year ago. The decrease in the producer prices was particularly caused by the decrease in prices of basic metals, paper and paper products, and chemicals and chemical products compared with last year's May. The fall in prices was curbed especially by the increase in prices of electricity, waste, oil products, and machinery and equipment from a year ago. 

The export price index went down by 1.7 per cent in a year. The decrease in export prices was especially due to lower prices of basic metals, paper and paper products, and chemicals and chemical products compared with last year’s May. The fall in export prices was curbed especially by the increase in prices of pulp, machinery and equipment, and oil products. 

The import price index went down by 1.2 per cent in a year. The decrease in import prices was, in turn, especially caused by lower prices of basic metals, waste, chemicals and chemical products, and electricity compared with last year’s May. The fall in prices was curbed especially by the increase in prices of crude petroleum, pharmaceutical preparations, oil products, and food products.

The basic price index for domestic supply fell by 0.5 per cent and the basic price index for domestic supply including taxes went up by 0.1 per cent from a year ago.

From April to May, producer prices for manufactured products went down by 0.3 per cent. Producer prices fell especially due to fallen prices of oil products and electricity compared with the previous month. The fall in prices was curbed especially by the increase in prices of paper and paper products compared with the previous month.