Industrial output prices fall 3.4% in 2nd quarter of this year

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Industrial production prices went from a rise of 6.3% in the first quarter of this year to a decrease of 3.4% in the second quarter, influenced by the fall in energy prices, the National Statistics Institute (INE) announced today.

If the energy grouping is not taken into account, prices in industrial production would have risen by 2.5% in the second quarter of this year, compared with the 10.3% increase in the previous quarter, INE explained.

In June, prices in industrial production fell by 5.8% year-on-year, compared with 3.5% in the previous month.

Energy continued to be the grouping that contributed most to the year-on-year fall in the industrial production price index (IPPI), without which prices would have risen 0.8% in June (+2.2% in May this year), INE also clarifies.

The statistics office also states that the year-on-year fall in the IPPI was “5.8% in June, a rate 2.3 percentage points (p.p.) lower than in the previous month”.

Energy, in turn, contributed 6.4 percentage points less to the fall in the total index for June, resulting in a 24.7% decline.

The consumer goods grouping, with a year-on-year increase of 6.4% (8.1% in May), recorded the only positive contribution (1.8 percentage points in June, against 2.3 percentage points in the previous month).

In monthly terms, industrial production prices fell by 0.1% in June this year, when they rose by 2.4% in the same month last year.

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