October industrial producer price index registered 5.06% increase over 2020

During October 2021, the industrial producer price index registered an increase of 5.06 per cent when compared to the corresponding month of the previous year.

When compared to October 2020, the industrial producer price index increased by 5.06 per cent. Price increases were registered in all the main industrial groupings, expect for energy which remained constant. The highest increase was recorded in intermediate goods (8.55 per cent), followed by consumer goods (4.32 per cent) and capital goods (1.84 per cent).

Industrial producer prices for the domestic market increased by 1.51 per cent.   Price rises were recorded in intermediate goods (5.50 per cent) and consumer goods (0.86 per cent). Capital goods dropped by 0.06 per cent.

Non-domestic prices increased by 7.36 per cent. Prices within the euro area rose by 8.08 per cent while those within the non-euro area increased by 6.99 per cent.

Monthly comparison

During October 2021, the industrial producer price index decreased by 0.19 per cent when compared to September 2021. Intermediate goods dropped by 0.74 per cent, whilst capital goods and consumer goods rose by 0.32 per cent and 0.27 per cent respectively. There were no price changes in the energy sector.

Domestic market prices increased by 0.08 per cent due to a rise in consumer goods by 0.26 per cent.

Non-domestic market prices declined by 0.36 per cent. Decreases of 0.43 per cent and 0.21 per cent were recorded in the non-euro area and euro area respectively”

The industrial producer price index monitors the changes in selling prices of all leading products within a sample of around 80 large enterprises which account for over 80 per cent of the total industrial turnover. Figures for the last three months are to be considered provisional and subject to revision. However, in exceptional cases, past data may also be revised. The pricing point for the monthly price collection is the 15th day of the month or the nearest trading day prior to that date.

Euro area exports are transactions between Maltese enterprises and enterprises within the euro area. The euro area includes Austria, Belgium, Cyprus, Estonia (from 2011), Finland, France, Germany, Greece, Ireland, Italy, Latvia (from 2014), Lithuania (from 2015), Luxembourg, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These are classified as ‘non-domestic euro-area’. The ‘non-domestic non-euro area’ covers transactions between Maltese enterprises and enterprises within the non-euro area. Examples include the USA and Sweden. The latter country is in the EU but does not use the euro currency. Transactions among local resident enterprises are considered ‘domestic’.