In October 2024, the Producer Price Index (PPI) for Industrial Products decreased by 0.1% compared to September, while rising 6.8% compared to October 2023, according to GeoStat.

Mining and quarrying prices rose by 4.6% from September, contributing 0.3 percentage points to the monthly PPI change. In contrast, prices for manufactured products fell by 0.8%, contributing -0.62 percentage points. Notably, food product prices dropped 3.5%, while prices for electricity, gas, steam, and air conditioning increased by 2.1%, adding 0.22 percentage points to the monthly change.

The annual PPI increase was largely driven by:

• Mining and quarrying: Prices rose 29.7%, contributing 1.7 percentage points, with metal ores increasing 35.9%.
• Manufactured products: Prices grew by 5.3%, contributing 4.32 percentage points, with notable increases in food products (6.6%) and basic metals (11.8%).
• Electricity, gas, steam, and air conditioning: Prices rose by 4.4%, contributing 0.54 percentage points.
• Water supply, sewerage, waste management: Prices increased by 10.9%, contributing 0.26 percentage points.