General industry prices changed by 2.33% in May, higher than in April (1.58%). The May result was the second largest in the time series started in January 2014, losing to September 2015 (2.99%). In the same comparison, 22 of the 24 industrial activities registered a rise. In May 2017, the result was 0.10%. The cumulative index in the year reached 5.96% and, in 12 months, 10.45%. Support material for the Producer Price Index release is on the right of this page.

In May, prices of the mining and manufacturing industries (general industry) varied by 2.33% compared to April, a result higher than the one observed in the April / March comparison (1.58%). In the month, 22 of the 24 industrial activities had higher prices.

The four largest changes in May 2018 were among the products included in the following industrial activities: petroleum refining and alcohol products (7.36%), tobacco (4.80%), other transportation equipment (4.63%) and mining and quarrying (-4.10%).

In terms of influence, in the comparison between May 2018 and April 2018 (2.33%) were petroleum refining and alcohol products (0.85 p.p.), food products (0.60 p.p.), other chemicals (0.26 p.p.) and mining and quarrying industries (-0.18 p.p.).

The cumulative indicator in the year (May 2018 versus December 2017) reached 5.96% in May, against 3.55% in April 2018. Among the activities that had the greatest percentage variations in May 2018 in the perspective of this indicator were: petroleum refining and alcohol products (12.69%), other chemicals (9.91%), paper and pulp (9.12%) and mining and quarrying industries (8.61%). The most influential sectors were petroleum refining and alcohol products (1.45 p.p.), food products (1.02 p.p.), other chemicals (0.95 p.p.) and basic metals (0.68 p.p.).

For the cumulative indicator in 12 months, the price variation occurred was 10.45%, against 8.05% in April 2018. The four largest price changes occurred in the mining and quarrying industries (33.56%), petroleum refining and alcohol products (33.32%), pulp and paper (18.62%) and other chemicals (16.97%). .

The sectors that mostly influenced this indicator were: petroleum refining and alcohol products (3.36 p.p.), other chemicals (1.60 p.p.), mining and quarrying industries (1.11 p.p.) and basic metals (1.10 p.p.).

Among the major economic categories, the price change of 2.33% reflected as follows in May: 1.48% in capital goods; 3.03% in intermediate goods; 1.33% in consumer goods, 0.49% in durable consumer goods and 1.59% in semi-durable and non-durable consumer goods. The influence of the major economic categories was as follows: 0.13 p.p. of capital goods, 1.76 p.p. of intermediate goods and 0.44 p.p. of consumer goods. In the case of consumer goods, 0.40 p.p. was due to variations in semi-durable and non-durable consumer goods and 0.04 p.p., in durable consumer goods.

In the perspective of the cumulative rate in the year (current month versus December of the previous year), industrial price variations accrued a variation of 5.96% until May, being 4.78% the variation of capital goods (with influence of 0. 41 p.p.), 8.80% of intermediate goods (5.01 p.p.) and 1.58% of consumer goods (0.54 p.p.). In the last case, this result was influenced by 0.17 p.p. by durable consumer goods and 0.37 p.p. by semi-durable and non-durable consumer goods.

At the annual rate (M / M-12), the industry price variation reached 10.45% in May, with the following changes: capital goods, 7.99% (0.69 p.p.); intermediate goods, 15.49% (8.66 p.p.); and consumer goods, 3.10% (1.10 p.p.). The influence of durable consumer goods was 0.29 p.p. and of semi-durable and non-durable goods, 0.81 p.p.

The following sectors were highlighted in the results: Mining and quarrying industries: in May, the prices of the sector fell (-4.10%), being the main fall of prices observed in the month for the general industry. The cumulative index in the year was 8.61%. In the indicator that compares the current month to the same month of the previous year, there was a variation of 33.56% (the highest variation among the activities surveyed). The activity was highlighted by its impact mainly on the monthly indicator, in terms of variation (the highest negative (-0.18 p.p. in 2.33% of the general industry). The negative variation observed for the monthly indicator was mainly due to the oscillation of iron ore prices in the international market.

Food products: the variation of 3.21% in relation to the previous month was the highest one since September 2015, 5.47%. It is worth noting that, in September 2015, the Real depreciated against the US Dollar by 11.2% (48% in the year), while in May this year there was a significant depreciation (the highest since September), 6.7 % (10.4% in the year).

In cumulative terms, the variation in 2018 reached the third consecutive positive result in May, 5.38% (in April, 2.10%), which was the highest observed since the closing of 2016, 8.79%. Finally, in the comparison with the same month of the previous year, a positive result was not reached, 2.11%, since May 2017 (0.98%).

In the comparison at the end of the time series, all the highlights (both in terms of variation and influence) were positive, with two products appearing both in terms of variation and influence: "residues from soybean extraction" and " wheat flour". In the case of influence, the other two products were "fresh or chilled beef" and "orange concentrated juices". The four products had an influence of 2.15 p.p. in 3.21%.

Petroleum refining and alcohol products: May 2018 results were the highest in the time series started in December 2009. The variation against April was 7.36%; the cumulative rate in the year, 12.69% (the highest result for May and the third highest result of the time series, which loses to the closing of December 2017, 18.70%, and November 2017, 17.73%); and the variation against May 2017, 33.32% (the highest in the time series).

The sector was the first, in terms of variation, in relation to the previous month and against December 2017 and the second in comparison with the same month of 2017 (loses for mining and quarrying industries, 33.56%). In terms of influence, it emerged as the main one in the three cases: 0.85 p.p. in 2.33% in the month; 1.45 p.p. in 5.96% (cumulative in the year); and 3.36 p.p. in 10.45% (cumulative in the last 12 months).

Regarding products, all the variations and influences of petroleum products were positive, while "ethyl alcohol (anhydrous or hydrated)", when it appears (influence on results in May 2018 against April 2018 and cumulative index in the year), impacted negatively the results.

Other chemicals: The chemical industry in May had an average price variation of 2.59% over April, thus completing nine consecutive months of price increases (20.28% in this period). As a result, there was an increase of 9.91% in the cumulative index for the year and of 16.97% in the last 12 months (the highest variation for this activity in this type of index since the beginning of the IPP time series in December 2010), very different from the situation that occurred in May 2017, when the cumulative rate in 12 months reached -2.45%.

In terms of variation, among those who had price increases in the month, the highlights were "styrene-butadiene rubber", "titanium dioxide" and "phenol (hydroxybenzene) and its salts". On the other hand, there was a drop in "styrene" prices, the only one among the four products listed which was also among the main influences. The other three products with positive influences on the final result were: "NPK- based manure or fertilizers ", " unsaturated ethylene (ethene) " and "polypropylene (PP)". In relation to the cumulative index in the year and to the cumulative rate in the last 12 months, all the products had positive results and were the same ones quoted in relation to the results against the previous month, only removing "styrene" and, in its place, "herbicides for use in agriculture".

Basic metals: Comparing prices from May 2018 to April 2018, there was a variation of 2.08%, the eighth positive change in the last nine months (in January 2018, the variation was -0.06%), the activity accrued a variation of 8.43% in the year and of 13.86% in the last 12 months (19th consecutive positive variation in this type of indicator).

Among the four products that had the highest price variations, considering the month over previous month change, cumulative index in the year and cumulative rate in the last 12 months, all the results were positive. It is interesting to note that three of the four products that most influenced the result in the month (variation x contribution) also appeared with the largest variations: "copper and copper alloys bars, profiles and rebars", "unwrought aluminum alloys" and "steel carbon ingots, blocks, rods or plates of ". The fourth product with the greatest influence on results is "uncoated hot-rolled steel carbon coils". The four represented 1.83pp of the variation in the month, that is, only 0.25 p.p. was the influence of the other 18 products.