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Annual reduction of 2.5% of producer prices in industry in 2020

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Annual reduction of 2.5% of producer prices in industry in 2020

Producer Price Index in Industry decreased by 2.5% in 2020, compared to 2019, as announced by the Statistical Service.

In December 2020, the Producer Price Index in Industry reached 99.8 points (base 2015 = 100), recording an increase of 0.1%, compared to November 2020.

Regarding the change compared to the corresponding month of 2019, there is a decrease of 4.3%.

By sector, according to the Statistical Service, in December 2020, compared to November 2020, the index remained stable in the sectors of mines and quarries and electricity supply, while it increased in the sectors of water supply and material recovery by 2.3% and processing by 0.1%.

Regarding the changes compared to the corresponding month of the previous year, there is an increase in water supply and material recovery (8.2%) and a decrease in all other sectors, as follows: electricity supply -17.5%, processing – 1.3% and mines and quarries -0.3%.

By manufacturing sector, in December 2020 compared to the corresponding month of 2019, increases were recorded in the wood industry (1.8%), in the manufacture of furniture and repair of machinery and equipment (1.0%) and in the production of basic metals and construction metal products (0.2%), while there were reductions in the manufacture of electronic and optical products and electrical equipment (-0.8%), in the manufacture of machinery and equipment, motor vehicles and other transport equipment (-1.1%) and in the food, beverage and tobacco industry (-2.8%).

Source: www.philenews.com

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