Industry prices maintain a downward trend in February

The industrial producer price index (IPPI) recorded year-on-year growth of 8.8% in February 2023, which means that it maintained the downward trend compared to the previous month, after the 10.4% recorded in January. The main contribution to this deceleration came from the slowdown in prices for intermediate goods.

After the peak of 25.5%, observed in June 2022, prices in the sector have been experiencing a continuous deceleration, although the increases compared to the previous year remain. The greatest slowdown was seen in the grouping of intermediate goods, which fell from 11.8% in January to 9.2% in February, which means a contribution towards reducing the total index by 1.0 percentage points (pp).

On the other hand, consumer goods registered 14.7% in February, after 16.0% in the previous month, generating the most intense contribution (4.2 pp) to the aggregate index.

In the case of energy grouping, there was a year-on-year rate of change of 3.3% in the month under analysis (4.1% in January), which resulted in a contribution of 0.8 pp.

With regard to the monthly change, it was 1.2% in February (2.7% in the same month of last year), with a strong impact from the grouping of energy, with a change rate of 6.6% (7.4% one year before), generating a contribution of 1.4 pp to the total index.