Data published by the Federal Statistical Office (FSO) showed that in April the producer and import price index rose by 1% per annum after an increase by 2.1% per annum in March. Price growth has been slowing for the third month in a row, while the latest increase was also the weakest in the last two years. Economists had expected an increase of 1.1%. Meanwhile, on a monthly basis, the producer and import price index rose by 0.2% after a similar increase in March. Consensus estimates suggested a decrease by 0.1%.
The FSO said that the increase in the index compared to March was due to higher prices for machinery. Electrical equipment, watches, metal products as well as instruments and appliances for measuring and testing also became more expensive. In contrast, prices for petroleum products, basic metals, semi-finished metal products and gas declined.
In annual terms, the growth of the index was due to an increase in the cost of machinery. Rising prices were also observed for electrical equipment, instruments and appliances for measuring and testing, petroleum and natural gas, metal products, pharmaceutical preparations, furniture and medical and dental instruments and supplies. Meanwhile, the prices of petroleum products, basic metals, semi-finished metal products as well as computers and peripheral equipment decreased in annual terms.