Friday - 27 July 2012
Producer prices decrease by 1.2% from previous month
The producer price index (PPI) in June 2012 was 216.5 points (4. quarter 2005 = 100), 1.2% lower than in the previous month. The PPI for fish products was 271.3 points which is 0.7% lower than in May 2012 (effect on the index -0.2%) and the PPI for power intensive industry products was 232.6 points, 2.0% lower (-0.7%). The PPI for food products decreased by 0.3% (-0.1%) and the PPI for other manufactured products declined by 1.0% (-0.2%).
The PPI for domestically sold products was 0.1% lower than in the previous month while the index for exported products declined by 1.5% (-1.2%).
Compared to June 2011 the PPI has decreased by 0.7%. The PPI for fish products rose by 6.9% and the PPI for power intensive industry products decreased by 12.7%. In the same period the PPI for food products rose by 3.7%.
Basic weights for the PPI are revised annually and are as of June 2012 based on Statistics Iceland’s PRODCOM survey for the years 2010 and 2011.
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In evaluating the price changes accounted for here, it may be taken into consideration that the trade-weighted average price of foreign exchange in June 2012 was 1.3% lower than in the preceding month but 0.6% higher than in June 2011.