Industrial production prices for the total (domestic market and non–domestic market) increased by 52.3% in July 2022 compared to July 2021, says the latest report by the National Institute of Statistics (INS). In July 2022, industrial production prices for the total (domestic market and non-domestic market) were up 5.2% from June 2022.
Industrial production prices are a key indicator for measuring inflation and for determining the GDP deflator (real economic growth is calculated by dividing nominal GDP by an index given by this deflator). The lower the IPPI, the higher the GDP will be in real terms.
The industrial production price index (IPPI) is based on a monthly survey and measures the average evolution of the prices of goods produced in Romania and sold directly by producers, both on the domestic market and on the foreign market.