In December, output prices in industry slowed down their growth to the level of the beginning of the year

The growth of industrial producer prices for the domestic market slowed down since September, also due to a gradual reduction in energy prices. Prices of agricultural products have been gradually falling since the summer, mainly affected by a decrease in prices of crop production, but prices of animal products were at their maximum in December. Prices of construction materials reached their lowest level in 2022 in the last two months.

Industrial producer prices for the domestic market were higher by 33.5% year-on-year in December 2022. Industrial producer prices for the domestic market fell by 2.5% month-on-month.

The December development was mainly influenced a year-on-year price increase in electricity and gas supplies by 65.8% and in manufacture of petroleum products by 30.4%. Other important sectors also recorded price increases – manufacture of transport equipment by 9.1%, manufacture of metals and metal structures by 1.7%, manufacture of food and beverages by 28.7% and manufacture of rubber and plastic products by 14.9%.

In total, for the year 2022, prices in this sector increased by 43.3% year-on-year.

Industrial producer prices for the non-domestic market increased by 15.2% year-on-year. In a month-on-month comparison, industrial producer prices for the non-domestic market increased by 0.9%. In total, for the twelve months of 2022, industrial producer prices for the non-domestic market were higher by 20.5% than a year ago.

Prices of agricultural products

In December, prices of agricultural products rose by 35.3% year-on-year. Prices of crop products were higher by 35.1% compared to the same period last year, prices of animal products increased by 35.7%. As for the crop products, cereal prices increased by 40.9%. From the animal products, prices of hen edible eggs rose by 80.2% and prices of raw cow milk by 43%.

In 2022, prices of agricultural products increased by 36.5% on average, due to higher prices of crop products by 44.9% and higher prices of animal products by 21.1%.

Prices of construction works and materials

In December, prices of construction works were higher by 20.9% year-on-year, in total, for the whole year 2022, prices of construction works increased by 18.3%.

Prices of construction materials rose by 13.3% year-on-year, but they slightly decreased compared to November 2022. In total, since the beginning of the year, the growth reached 22.9%.

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