Producer prices in the domestic industry moved on a downward trajectory in August.

As can be seen from the data announced by Greek Statistical Authoritythe General Index of Producer Prices in Industry (domestic and foreign market total) showed a decrease of 2.4% last August, compared to the corresponding month last year, compared to a decrease of 8.3% recorded during the corresponding comparison of the indices of 2023 with 2022.

Source: ELSTAT

On a monthly basis, however, the August General Index showed a 0.5% increase, compared to the July 2024 index, against a 3.0% increase noted during the corresponding comparison of the 2023 indices.

At the twelve-month level, the average General Index of the period September 2023-August 2024, fell by 4.4% compared to the average General Index of the twelve months September 2022-August 2023, against an increase of 3.1% noted during the corresponding comparison of previous twelve months.

According to the data of ELSTAT, the changes in the indicators of the two-digit branches of the NACE classification mainly contributed to the annual decrease in August
Rev. 2, as follows:

  • Production of coke and refined petroleum products -19.4%
  • Manufacture of rubber and plastic products -5.6%
  • Manufacture of metal products, excluding machinery and equipment -2.2%
  • Production of other non-metallic mineral products -2.1%

On the contrary, the following sectors moved upwards:

  • Base metal production 2.3%
  • Food industry 5.8%
  • Manufacturing of computers, electronic and optical products 7.2%
  • Manufacture of machinery and equipment n.e.c. 7.3%
  • Supply of electricity, natural gas, steam and air conditioning 8.5%
  • Production of basic pharmaceutical products and pharmaceutical preparations 9.9%

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