Bulgaria's producer prices fall 1.0% M/M in August

Bulgaria's producer prices fall 1.0% M/M in August

Bulgaria's producer prices dropped by one per cent in monthly terms in August, the National Statistics Institute (NSI) said on September 30 2011.Producer prices in the mining sector and the processing industry fell by 1.9 per cent and 1.4 per cent, respectively, while prices for gas, electricity and heating energy generation and distribution remained unchanged compared to July.In annual terms, producer prices went up by 6.6 per cent, with prices in the mining industry rising by 7.7 per cent. The processing industry recorded an increase of 9.4 per cent, while the energy sector saw a rise of 0.6 per cent.Producer prices are influenced by both commodity costs and economic conditions, in particular consumer demand and labour market developments. Often the direction of production prices is indicative for the trend in consumer price inflation.The country's producer prices stalled their growth at the end of the spring, when the rate slowed down to nine per cent in June from 9.2 per cent a month earlier. Consumer prices also showed signs for stabilisation in the period and even recorded a month-on-month contraction.On an annual basis, producer prices in the food industry grew by 15.3 per cent in August. Prices in the textile sector (excluding clothing) rose by 10.8 per cent, while prices in the chemical industry increased by 9.5 per cent. (Source: The Sofia Echo)

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