Industrial producer prices in July up by 4 pct on the year

Industrial producer prices in July up by 4 pct on the year Izvor: Pixabay (ilustracija)

Industrial producer prices in Croatia went up by 4 percent in July 2018 compared to the same month last year, which continued their growth on an annual level for the 19th month in a row, and also marked the highest increase since the end of 2012, Raiffeisenbank Austria (RBA) analysts said on Thursday.

According to recently published data by the national statistics bureau, industrial producer prices went up in July 2018 by 0.5 percent compared to June. Prices went up by 0.7 percent on the month on the domestic market, and by 0.2 percent on the foreign market.

Compared with July 2017, energy producer prices increased the most, by 16.7 percent, followed by prices of intermediate goods production (1.7 percent), and capital goods production (0.6 percent).

Prices of non-durable consumer goods dropped in the same period by 0.6 percent, as did the prices of durable consumer goods (0.5 percent).

“Considering the continuing positive growth rates of producer prices, we can expect positive pressures on consumer price growth to continue. At the same time, domestic and foreign demand is expected to continue to recover, which will create pressures on industrial production growth,” RBA analysts said.

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