Industrial producer prices for the domestic market continued to decrease, while agricultural producer prices rise again after a year

In August, industrial producers for the domestic market sold their products for over 8% less than the same time last year. Lower prices were recorded in 10 out of the 16 monitored sectors of industry, with double-digit declines in energy and in manufacture of coke. On the contrary, after more than a year, the price decline for agricultural products was stopped.

In August 2024, industrial producer prices for the domestic market dropped by 8.4% year-on-year. Among the 16 monitored sectors of industry, 10 recorded price decreases, a double-digit decrease of over 13% was recorded in the sector of energy and manufacture of coke. On the contrary, price increases were recorded in six sectors, prices rose over 10% in manufacture of textiles and clothing and water supply; other sectors did not exceed a 4% increase. Month-on-month, prices rose by 0.5%. In the first eight months of 2024, domestic industrial producer prices fell by 10.8%.

Industrial producer prices for the non-domestic market were lower year-on-year and month-on-month by 0.5%. In the first eight months of 2024, industrial producer prices for the non-domestic market decreased by 1.5% compared to the previous year.

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Agricultural product prices

In August, a decrease in agricultural product prices was stopped, prices were only slightly higher than the previous year. Price increases were recorded in both crop and animal production. Among crop products, prices were more than by 17% higher for vegetables, fruits, nuts, spices, and potatoes, prices for oilseeds and fruits rose by 5.4%. Prices of cereals remained lower by 3.9%. Among animal products, prices of hen edible eggs fell by almost 15%, and prices of cow milk dropped by just under 1%. Since the beginning of the year, agricultural product prices declined by an average of 7.7%, prices of plant products were down by 12% and animal products by 3%.

Producer prices in construction

In August 2024, construction work prices rose by 5.5% year-on-year and increased by 0.5% compared to July. In the first eight months of 2024, construction work prices increased by 5.6% year-on-year.

A drop in prices of materials used in construction, which has continued for the past twelve months, slowed again in August, prices nearly reached the last year’s level. Compared to July, prices were slightly lower. In the first eight months of the year, prices of materials used in construction declined by 1.8% year-on-year.