Industrial Producer Price Indices: August 2024
Annual comparison
When compared to August 2023, the industrial producer price index dropped by 1.3 per cent. The prices of the intermediate goods decreased by 6.2 per cent. On the other hand, price increases were registered in the capital goods (3.5 per cent) and in the consumer goods (0.8 per cent). No price change occurred in the energy sector.
Industrial producer prices for the domestic market increased by 0.2 per cent. Increases were recorded in the consumer goods (1.3 per cent) and in the capital goods (0.2 per cent). On the contrary, the intermediate goods declined by 0.5 per cent.
Non-domestic prices decreased by 2.9 per cent. The prices of goods destined to the non-euro area and those destined to the euro area went down by 4.6 per cent and 0.5 per cent, respectively (Table 2).
Monthly comparison
During August 2024, the industrial producer price index decreased by 0.2 per cent when compared to July 2024. A price decrease of 0.6 per cent was registered in the intermediate goods. Moreover, a decline in price of 0.1 per cent was also recorded in both the capital goods and consumer goods. There were no price changes in the energy sector.
The overall domestic market did not change while the non-domestic prices went down by 0.4 per cent. The prices of goods destined to the non-euro area declined by 0.4 per cent and those destined to the euro area decreased by 0.3 per cent (Table 3).
Chart 1. Industrial producer price index
(2021=100) for total industry
No Data Found
Tables
Tables
Methodological Notes
1. The Industrial Producer Price Index (IPPI) monitors the changes in selling prices of all leading products within a sample of the largest businesses which account for over 80 per cent of the total industrial turnover.
2. The pricing point for the monthly price collection is the 15th day of the month or the nearest trading day prior to that date.
3. The methodologies and guidelines used are set by Eurostat and the International Monetary Fund (IMF).
4. Commission Implementing Regulation 2020/1197 specifies that it is the objective of the Industrial Producer Price Index to measure the development of transaction prices from the point of view of the producer. The observed producer price is the basic price that excludes VAT and adds subsidies on products received by the producer.
5. Euro area exports are transactions between Maltese enterprises and enterprises within the euro area. The euro area includes Austria, Belgium, Croatia (from 2023), Cyprus, Estonia (from 2011), Finland, France, Germany, Greece, Ireland, Italy, Latvia (from 2014), Lithuania (from 2015), Luxembourg, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These are classified as ‘non-domestic euro-area’. The ‘non-domestic non-euro area’ covers transactions between Maltese enterprises and enterprises within the non-euro area. Examples include the USA and Sweden. The latter country is in the EU but does not use the euro currency. Transactions among local resident enterprises are considered ‘domestic’.
6. The objective of Main Industrial Groupings (MIGs) is to provide an activity breakdown of industry using the internationally recognised classification of economic activities (NACE Rev. 2 Sections B, C, D and E) in terms of demand-based products: intermediate goods, energy, capital goods, durable consumer goods, and non-durable consumer goods. These regroup NACE Sections B to E and cover the following economic activities: quarrying, manufacturing, electricity and water supply.
7. Figures for the last three months are to be considered provisional and subject to revision. However, in exceptional cases, past data may also be revised.
8. The figures in this news release are unadjusted, that is, there are no working-day or seasonal adjustments. Indices are calculated using a Laspeyres-type index (2021=100). The data contained in this release is subject to revision. For an updated time-series which includes past data, please refer to the Statistical Indicators for this domain.
9. Weighting structure by Main Industrial Groupings.
| Main Industrial Groupings (MIGs) | Weight (%) |
|---|---|
| Intermediate goods | 32% |
| Energy | 21% |
| Capital goods | 17% |
| Consumer goods | 30% |
| - Durable consumer goods | 2% |
| - Non-durable consumer goods | 28% |
10. The calculation of the percentage changes from the indices table may slightly differ from the published percentage changes due to rounding.
11. More information relating to this news release may be accessed at:
Sources and Methods
Statistical Concepts
Classifications
12. A detailed news release calendar is available online.
13. References to this news release are to be cited appropriately. For guidance on access and re-use of data please visit our dedicated webpage.
14. For further assistance send your request through our online request form.
Industrial Producer Price Indices: August 2024
- In August 2024, the Industrial Producer Price Index decreased by 1.3 per cent when compared to the same period of 2023.
- The most notable annual price change was a decrease of 6.2 per cent in the intermediate goods index.
- Prices for the domestic market increased by 0.2 per cent while the non-domestic prices went down by 2.9 per cent.
- When compared to July 2024, the Industrial Producer Price Index dropped by 0.2 per cent.
