In May 2019, industry prices changed by 1.43% against April, above the figure recorded between April and March 2019 (1.22%). Againt figure of April 2019, 18 of the 24 activities registered positive price changes. The result had been 2.55% in May 2018. The cumulative index in the year hit 3.99% and in 12 months, 7.36%. The support material for the Producer Price Index can be found on the right.

The four biggest changes in May 2029 took place in the following industrial activities: mining and quarrying industries (6.50%), oil refining and ethanol products (3.28%), pharmaceuticals (2.89%) and printing (2.27%). The most influential items between May and April 2019 were: food products (0.39 percentage points), petroleum refining and ehtanol products (0.35 percentage points), mining and quarrying industry (0.30 percentage points) and other chemicals (0.10 percentage points).

The cumulative index in the year reached 3.99%. The activities recording the biggest changes were: mining and quarrying industry (22.75%), oil refining and ethanol products (19.90%), pharmaceuticals (6.49%) and furniture (5.73%). The most influential sectors were: oil refining and ethanol products (1.85 percentage points), mining and quarrying industry (0.95 percentage points), food products (0.47 percentage points) and other chemicals (-0.27 percentage points).

Against May 2018, prices changed by 7.36%, versus 8.55% in April 2019. The four biggest changes took place in mining and quarrying industry (36.10%), oil refining and ethanol products (13.51%), machinery and equipment (10.59%) and other transportation equipment (9.99%).

Among the main economic categories, the increase of 1.43% in May resulted in: 1.27% in capital goods; 1.81% in intermediate goods; and 0.92% in consumer goods, being 0.14% the change observed in durable consumer goods and 1.08% in semi-durable and non-durable consumer goods. The influence of the main economic categories in the result of industry was: 0.09 percentage points capital goods; 0.98 from intermediate goos and 0.35 percentage points from consumer goods. 

Considering the cumulative index up to May, the following increases were observed: 3.86% in capital goods (0.29 percentage points), 3.79% in intermediate goods (2.07 percentage points) and 4.30% in consumer goods (1.63 percentage points). In the third one, that result was influenced by durable consumer goods (0.18 percentage points) and semi-durable and non-durable consumer goods (1.45 percentage points). Versus May 2018, the changes were: capital goods, 10.02%; intermediate goods, 7.47% and consumer goods, 6.41%.

See the highlights below: 

Mining and quarrying industry: in May, the prices changed by 6.50%, in relation to April. The cumulative change in the year was 22.75% and, in comparison with May 2018, there was an increase of 36.10% in the prices of the sector. Mining and quarrying industry were a highlight in general industry, having recorded the biggest price changes considering the three indicators analyzed. 

Changes in relation to April, and the cumulative change in the year were 0.3 percentage points out of 1.43% and 0.95 percentage points out of 3.99%, over the indicators of overall industry, respectively.

Food products: in May, the prices in the sector changed by 1.75% against those in April, the biggest change since December 2018 (2.03%). Given that result, the cumulative index in the year went from 0.33% (up to April) to 2.09%. For the sake of comaprison, in May 2018, the cumulative index stayed at 5.39%. Finally, in the comparison against May 2018, the change was 4.86%, the lowest result since May 2018 (2.12%).

Four beef products recorded the most significant price changes, with one negative figure, only (“cattle and horses leather and rawhides, fresh, salted or dry”). However, n terms of influence, only one of the products is highlighted in terms of change, "frozen beef”. The other products are: “residue from the extraction of soybeans”, “frozen poultry and giblets” and “VHP sugar (very high polarization)”, all of them with positive price changes. The influence of the four products is 1.03 percentage points, 1.75%.

The relevance given to the sector is due to the fact that it was the main influence in the May/April comparison (0.39 percentage points out of 1.43%) and the third one cumulative in the year (0.47 percentage points out of 3.99%).

Petroleum refining and alcohol products: in relation to April, the prices in the sector changed by 3.28%. The cumulative index in the year reached  19.90% (in May 2018, and in the same month, the cumulative index was 12.69%). In comparison with May 2018, the change was 13.51%.

The sector recordd the biggest change in the three comparisons made. Its influence was the second biggest in the change versus April (0.35 percentage points, 1.43%) and the first in the cumulative index (1.05 percentage points, out of 3.99%).

In terms of the products highlighted in the comparison of May versus April, the most significant contributions to the sector came both in terms of change and of influence, “gasoline, except for aviation” and “diesel”, both with positive price changes. The influence of the four main products (see the chart below) was 3.07 percentage points out of 3.28%, that is, the other six products accounted for 0.21 percentage points in the result.

Other chemicals: versus April, the change of prices in the sector was 1.27%, the third positive increase in a row in the year. Despite the positive results, up to May, the sector had recorded a decrease of -3.10%. In comparison with May 2018, the prices rose 5.13%.

In relation to April, both in terms of change and of influence, the highlights were naphtha (“non-saturated propylene”, “polystyrene (high-impact or crystals)” and two polyethelenes), a product whose price has risen throughout the year. The four highlights accounted for 0.39 percentage points out of 1.27%, so the other products account for 0.88 p.p. The only negative contribution came from "herbicide for agriculture".

The sector was number four in terms of influence in relation to April (0.10 p.p. out of 1.43%) and in the cumulative index (-0.27 p.p. out of 3.99%).

Pharmaceuticals: the segment recorded the third biggest change in prices in general industry, versus April (2.89%) and in the cumulative index in the year (6.49%). Since March this year, the prices have increased and the monthly index was the biggest since May/2016 (2.99%). IN the last 12 months, the average change of prices was 8.23%, the second biggest in the series, second to the April index 2011 (9.09%). The rise of prices at this time of year reflects the annual rise medicine prices authorized by the government. 

The four most influential products against April accounted for 2.48 percentage points out of 2.89%, so the other four products made up -0.41 percentage points.

Motor vehicles: in May, the sector recorded a change of 0.30% against April, following a trend to increase observed in the five preceding months.  In the last 34 months, between August 2016 and May 2019, the sector had 32 positive results, with a cumulative change of 16.95%. The cumulative changes in the year and in the last 12 months hit, respectively, 2.27% and 5.77%.

The activity of vehicles and motorcycles was a highlight, among all the sectors surveyed, for accounting for the main contribution to the general index, 8.39%.

Considering the cumulative indexes in the year, the most relevant products accounted for positive impacts: “cars for passengers, gasoline or biofuels, of any cylinder capacity”, “tractor trucks for trailers and semi-trailers”, “electric ignition components” and “gasoline or ethanol- powered vehicles for the transportation of goods, with a capacity below 5 t”.