According to the report from the Federal Statistical Office (FSO), the Producer and Import Price Index fell in June 2019 by 0.5% compared with the previous month, reaching 101.7 points (December 2015 = 100). Economists had expected a 0.1% increase. The decline is due in particular to lower prices for petroleum products, petroleum and natural gas as well as basic metals and semi-finished metal products. Compared with June 2018, the price level of the whole range of domestic and imported products fell by 1.4%. Economists had expected a 0.9% decrease.
The decline in the producer price index compared with the previous month was mainly due to lower prices for petroleum products. Metals, metal semifinished products and scrap also became cheaper. On the other hand, rising prices were observed for wood products.
Lower prices compared with May 2019, the import price index recorded lower prices, especially for petroleum products, oil and natural gas, as well as metals and metal semifinished products. Price declines were also reflected in core and stone fruit, as well as products from the building carpentry and interior finishing works. However, cars became more expensive.
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