Prices of both agricultural products and industrial producers continued decreasing, but at a significantly slower pace 

The industrial producer prices for the domestic market dropped more moderately, the decline was below 10%. They continued to be affected mainly by the lower energy prices by a fifth, as well as by the continuing price drop in the most important sectors of industrial production. Although the prices of agricultural products maintained the trend of a year-on-year decreasing, after a year the drop in prices was only single-digit.

Industrial producer prices for the domestic market were lower by 9.6% year-on-year in June 2024, after four months, the drop was only single-digit. This was caused by the lower energy prices by up to 21.4%. Prices continued decreasing in the important sectors of industrial production, in manufacture of metals by 6.1%, in manufacture of food, beverages and tobacco by 2.4%, as well as in manufacture of rubber and plastic by 1.5%. After a slight year-on-year growth in the previous month, the manufacture of transport equipment remained at the same level. In a month-on-month comparison, domestic producer prices increased by 1.5%, in total for the first half of 2024, prices in industry were lower by 11.5%.

Industrial producers for the non-domestic market were lower by 1% year-on-year, they increased only slightly, by 0.1% month-on-month. In total for the first six months of 2024, industrial producer prices for the non-domestic market were lower by 2% than a year ago.

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Producer prices of agricultural products

In June, prices of agricultural products were lower by 4% year-on-year, which was the slowest decline in the last twelve months. The prices of vegetable products were lower by 6.8% than in the corresponding period last year, and the prices of animal products also dropped by 3.2%. Among vegetable products, the prices of cereals decreased by 17.6% and of oilseeds and fruits by 5%. The prices of vegetables, fruits, nuts and spices increased by 16.8%. Among animal products, the prices of edible chicken eggs dropped by 20.1% and cow's milk by 7.8%, while the price of beef and calves for slaughter, rose by 10.6%. Since the beginning of the year, the prices of agricultural products decreased by an average of 11.9% due to lower prices of crop products by 22.5% and animal products by 4%.

Producer prices in construction

Prices of construction works were higher by 5.7% year-on-year in the sixth month of 2024, but the growth rate slightly accelerated compared to May. In total for the first six months of 2024, construction work was up by 5.7% year-on-year.

Prices of construction materials were lower by 1.1% year-on-year in June, falling for ten consecutive months. Compared to May, prices were slightly higher. In total since the beginning of the year, the prices of construction materials were lower by 2.1% year-on-year.