Output prices in industry also increased in October, mostly affected by extremely high prices of electricity and gas

Industrial producer prices for the domestic market stabilized at 60 percent year-on-year in October, mainly due to a more than doubling of energy supply prices. A growth of output prices of crop production and construction materials continued to slow down.

Industrial producer prices for the domestic market were by 58.4% higher, year-on-year, in October 2022. The overall development in industry was mainly influenced by price increases in electricity and gas supply by 126.2%, manufacture of petroleum products by 57.6% and manufacture of chemicals and chemical products by 48.9%.

The three most important sectors recorded the following increase in output prices: manufacture of transport equipment by 8.3% (gradual increase in production costs), manufacture of metals and metal structures by 2.7% (significantly decreasing trajectory of output prices, in January they rose by 33%) and manufacture of food by 30.2%.

Industrial producer prices for the domestic market rose by 0.7% month-on-month. In total, since the beginning of the year, prices in this sector increased by 44.9% year-on-year.

Industrial producer prices for the non-domestic market increased by 18.8% year-on-year. Energy prices were higher, especially prices of electricity and gas supply by 143.3% and water supply and waste management by 26.4%.

In a month-on-month comparison, industrial producer prices for the non-domestic market increased by 0.8%. In total, for the first ten months of 2022, industrial producer prices for the non-domestic market were by 21.7% higher than a year ago.

Prices of agricultural producers

In October 2022, prices of agricultural producers increased by 37.5% year-on-year. Producer prices of crop production rose by 40% compared to the same period last year, prices of animal production increased by 30.2%. Prices of cereal production rose by 54.8% and oilseeds and oligoes fruits by 29.5%. A price of producing raw cow's milk rose by 42.7% compared to the corresponding period last year.

Since the beginning of the year, prices of agricultural producers increased by 36.3%, on average, mainly due to higher output prices of crop products by 46.8% and higher prices of animal products by 18%.

Prices of construction works and materials

Prices of construction works increased by 17.9%, year-on-year, in October, compared to September, they were higher by 0.5%. In total, for the first ten months of 2022, prices of construction work increased by 17.8%.

Prices of construction materials increased by 15.4% year-on-year, compared to September 2022, they were lower by 2.2%. In total, since the beginning of the year, a year-on-year growth of 24.9% was recorded.

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