Industrial export prices soared in June and hit 16-year highs

General Index Export prices of industrial products increased by 21.8% yoy As reported this Friday by the National Institute of Statistics (INE), last June is two-tenths above the May rate, and the biggest annual increase since the series began in January 2006.

Export prices of industrial products, It broke the record twelve months in a row. June interest rate seen driven especially by capital goods and non-durable consumer goods., which increased its annual rates compared to May. On the other hand, energy decreased by about six and a half points to 135.9% due to the decrease in generation, transportation and distribution of electrical energy.

On your own behalf import prices of industrial products increased by 30.4% Compared to June 2021, it is three-tenths above the rate recorded in the previous month.

This development was mainly driven by energy, which increased its rate by more than one percentage point to 118.1% as a result of higher coking plants and refined oil prices this month compared to last year’s June. It is worth noting that although it has the opposite effect. Increase in crude oil and natural gas extraction prices, lower this month than last year.

With the figures of May 2022, the prices of the export chain increased for 18 consecutive months compared to the same period of the previous year, while 16-month positive rates were added to the import prices.

export prices

Prominent among the industrial sectors that positively affected export prices in June: the annual variation in non-durable goods increased by eight tenths to 11.7 percent.

A consequence of this behavior price increases in the manufacture of vegetable and animal oils and fatsmeat processing and preservation and production of meat products, which were higher than in the same month of the previous year and which increased this month while prices fell last year.

Likewise, capital goods increased by six-tenths to 5.6% in June 2021, driven by the rise in manufacturing prices of motor vehicles.

the only industry negatively affected export prices. reduced its variation by almost six and a half points to 135.9%. In this evolution, the decline in electricity generation, transmission and distribution prices compared to the increase recorded in June 2021 is prominent.

It is also worth noting that the increase in refined oil prices was higher this month compared to the previous year, although it had a positive effect.

The annual rate of the overall export index excluding energy increased by five-tenths in June to 14%, the highest figure since the start of the series in 2006.

up to 30.4%

According to INE, import prices of industrial products increased by 30.4% in the sixth month of this year at the interannual rate, three-tenths higher than in May.

This increase was contributed by the energy that increased his speed by more than one point, up to 118.1% as a result of the increase in prices for coke ovens and oil refining, higher this month than June of last year. It’s also worth noting that the rise in crude oil and gas extraction prices was lower this month than last year, although just the opposite.

on your side, 9.1% capital goods pricesThis month, due to the increases in the prices of machinery and equipment manufacturing, which were higher than in 2021, and the increases in the prices of motor vehicles, trailers and semi-trailers, it increased by about one and a half points compared to the previous month. to the stability recorded in the previous year.

In contrast, rates for intermediate goods fell by about one and a half points to 20.2%. The decline in metallurgy prices is noteworthy in this evolution; Increased production of iron, steel and ferroalloy products and, to a lesser extent, the chemical industry in the same month of 2021.

Excluding energy, import prices of industrial products decreased slightly in June compared to the same month of the previous year. Up to 13.4%, one-tenth less than in May.

Import prices are also rising

On a monthly basis (between June and May), export prices of industrial products increased by 1% compared to the previous month’s increase of 1.1%. With this recovery, 20 months of monthly promotions are chained.

Import prices, on the other hand, increased by 1.7% after falling 0.3% in May, when the first negative rate occurred after 18 months of consecutive monthly increases.

Source: Informacion

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