IPP
Mining and quarrying industries and petroleum refining drive high of 0.43% in producer prices
April 16, 2019 09h00 AM | Last Updated: April 16, 2019 11h00 AM
Industry prices increases 0.43% in February, driven by mining and quarrying and petroleum refining. The high of 7.97% in the mining and quarrying industries offset last month's decrease of -7.59% and was the largest result in four months in the sector. Conversely, the prices of petroleum refining products expanded 4.22%, the hugest increase since September 2018.
Despite that, just 11 of the 24 activities presented highs in February. Producer prices accumulated -0.33% in the year and 8.36% in the last 12 months.
The data are from the Producer Price Index - IPP - released today by the IBGE. The survey measures the change in the prices of products at the "factory gate", without tax or freight, of 24 activities of the mining and manufacturing industries.
"The result was influenced by two activities: mining and quarrying industries and petroleum refining, which, together, took the index up by 0.71 percentage points, with a highlight to the manufacture of iron ores and Crude petroleum oil", explains IPP analyst Manuel Campos.
On the other hand, the food sector, of great weight in the index, suffered a drop of 0.53% in February (influence of -0.12 pp), which held the rate this month. "The drop was pushed by beef and soybean prices, very much due to the dollar depreciation, as those are exporting goods", added the analyst. The sectors of chemicals (-0.16 pp), for the fourth month in a row, and basic metals (-0.04 pp), for the fifth, also exerted a negative influence.
Among the Major Economic Categories, there was increase of 0.23% in Capital Goods, 0.64% in Intermediate Goods and 0.16% in Consumer Goods. Durable consumer goods had a high of 0.18%, whereas semi- and non-durable consumer goods increased 0.16%.
IPP updates time series with sample of 2,070 enterprises
The IPP starts, from this month on, a new time series with changes in the sample of enterprises and products. As a whole, the sample will count on 2,070 enterprises, 670 more than the previous one, while the amount of products surveyed will move from 324 to 416 items. For further information, click here.
