According to the National Statistics Office, the industrial producer price index increased by 2.8 percent from the previous month to 221.7 units in April, with the growth rate intensifying compared to previous months.
The month’s increase was mainly due to the mining sector, which saw the largest increase in producer prices at 3 percent. Specifically, the cost of coal mining, metal ore mining, and oil mining all increased, according to the National Statistics Office.
Although the monthly growth intensified, the annual growth rate slowed down to 0.6 percent, mainly due to a decrease in the cost of oil production in the producer price sub-index of the mining sector. However, other sectors have continued to grow steadily.
The industrial producer price index measures the change in the price of goods and services produced and sold. In the index, the mining sector has the largest weight at 77.9 percent, while the processing industry has 14.6 percent, and electricity, gas, steam, and ventilation have 6.7 percent.