Producer price index, 15 September 2005

After skyrocketing from May to August, prices of crude oil (Brent Blend) went down by 3.5 per cent from August to September. During this period prices have been greatly influenced by the hurricanes that have hit the US and the Gulf of Mexico. Prices of electricity have declined by 3.3 per cent.

Manufacturing prices showed only a slight increase from last month - going up 0.2 per cent. In this period prices of refined petroleum products only went up by 2.8 per cent. According to the London Spot Markets prices of unleaded gasoline increased by about 3.5 per cent, while prices of gas oil declined approximately 7 per cent. Prices of food products continue to increase. From January these prices have increased by 4.8 per cent, while the increase from August was 0.7 per cent. Basic metals went down by 4.2 per cent. Both prices of iron and steel, as well as non-ferrous metals showed decline. According to the London Metal Exchange prices of aluminum and nickel went down by 6 and 5.6 per cent respectively compared to last month.

Among the main industrial groupings energy goods went down 2.3 per cent, while prices of consumer goods increased by 0.5 per cent.

12-month rate, September 2004 to September 2005: 8.3 per cent increase in manufacturing

The 12-month rate of manufacturing is unchanged from last month. Prices of refined petroleum products have increased by 56.4 per cent during the last 12 months, while prices of food products have increased by 3.8 per cent. The largest declines occurred in prices of basic metals, and electrical and optical equipment.

Among the main industrial groupings the 12-month rate of intermediate goods have shown a downward tendency for some time. The latest decline pushed the 12-month rate of the group under zero and prices are now 0.2 per cent lower that they were 12 months ago.