News Releases

Industrial Producer Price Indices: December 2022
NR016/2023
Data tal-Ħruġ: 30 January 2023
Cut Off Date: 26 January 2023
During December 2022, the industrial producer price index registered an increase of 4.29 per cent when compared to the corresponding month of 2021.

Annual comparison

When compared to December 2021, the industrial producer price index increased by 4.29 per cent. Price increases were registered in all the main industrial groupings except energy. The highest increase was registered in the consumer goods (8.42 per cent) followed by intermediate goods (3.53 per cent) and capital goods (2.39 per cent).

Industrial producer prices for the domestic market increased by 7.89 per cent. Price rises were recorded in the intermediate goods (15.59 per cent), consumer goods (12.01 per cent) and capital goods (5.07 per cent).

Non-domestic prices increased by 2.06 per cent. The prices of goods destined to the non-euro area rose by 2.47 per cent while those destined to the euro area increased by 1.25 per cent (Table 2).

Monthly comparison

During December 2022, the industrial producer price index decreased by 0.35 per cent when compared to November 2022. Intermediate goods went down by 1.02 per cent. On the other hand, capital goods and consumer goods increased by 0.49 per cent and 0.08 per cent respectively. There were no price changes in the energy sector.

Domestic market prices increased by 0.04 per cent due to an increase of 0.13 per cent in consumer goods.

Non-domestic prices decreased by 0.60 per cent. The prices of goods destined to the non-euro area dropped by 0.96 per cent while those destined to the euro area increased by 0.12 per cent (Table 3).

Chart 1. Industrial producer price index

(2015=100) for total industry

No Data Found

Additional Tables and Charts

Methodological Notes

1. The Industrial Producer Price Index (IPPI) monitors the changes in selling prices of all leading products within a sample of around 80 large enterprises 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, 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.
 
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.
 
9. More information relating to this news release may be accessed at:                

Sources and Methods: https://nso.gov.mt/en/nso/Sources_and_Methods/Unit_B2/Short-term_Statistics/Pages/Short-term-Statistics.aspx               

Statistical Concepts: https://metadata.nso.gov.mt/concepts.aspx                       

Classifications: https://metadata.nso.gov.mt/classificationdetails.aspx?id=NACE%20Rev.%202
 
10. References to this news release are to be cited appropriately.
 
11. Statistics in this News Release should be interpreted in context to the unprecedented developments and restrictions related to COVID-19.
 
12. Weighting structure by Main Industrial Groupings:
Main Industrial Grouping (MIG) Total (Flow)
Intermediate goods 34.7
Energy 14.9
Capital goods 17.6
Consumer goods 32.8
Durable consumer goods 2.0
Non-durable consumer goods 30.8

13.  A detailed news release calendar is available on:
https://nso.gov.mt/en/News_Releases/Release_Calendar/Pages/News-Release-Calendar.aspx

14. For further assistance send a request from: https://workflow.gov.mt/Runtime/Runtime/Form/01+NSO+Request+for+Statistical+Information/?language=en

Industrial Producer Price Indices: December 2022
NR016/2023
Data tal-Ħruġ: 30 January 2023
Cut Off Date: 26 January 2023
Modern,Newspapers,Are,Folded,And,Composing,Together,The,Word,News
  • In December 2022, the Industrial Producer Price Index increased by 4.29 per cent when compared to the same period of 2021.
  • The most notable price change was an increase of 8.42 per cent in the consumer goods.
  • When compared to the previous month, the Industrial Producer Price Index dropped by 0.35 per cent.
Kalkulatur tal-Inflazzjoni Kalendarju tal-Istqarrijiet tal-Aħbarijiet Talbiet għat-Tagħrif Mistoqsijiet dwar il-Kodiċi tan-NACE
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