Get real time updates directly on you device, subscribe now.
In August 2022, industrial production prices for the total (domestic market and non–domestic market) were up 1.9% from July 2022, according to the latest report on the evolution of industrial production price conducted by the National Institute of Statistics (INS).
The report also shows that industrial production prices for the total (domestic market and non–domestic market) increased by 53.0% in August 2022 compared to August 2021.
This indicator is very important for the economy, being used in the calculation of the GDP deflator (real economic growth is calculated by dividing the nominal GDP by an index given by this deflator). The lower the industrial inflation, the higher the GDP will be in real terms.
The biggest increases were in energy production and supply (over 300%), followed by oil extraction (almost 250%) and in the extractive industry – almost 200%.
- Advertisement -