Factory gate prices dipped in July

The increase in factory-gate prices dipped to almost nil in July after growing below 2 percent year-on-year in the previous three months.

The National Statistics Office attributed the sluggish growth to continuing double-digit declines in the prices of furniture and fixtures.

Results from the NSO’s latest monthly survey of factory-gate prices, covering 20 selected groups of manufactured goods included in the producer price index (PPI), showed that the prices in six other groups waned, while that of 11 groups gained.

Showing single-digit declines were prices of electrical machinery, non-electrical machinery, miscellaneous manufactures, beverages, chemicals, and paper and paper products.

Latest data on manufacturing output showed that the growth in the value of manufacturing output further slowed in June to 1.7 percent, while volume declined by -0.2 percent year-on-year.

In June, growth in value eased from the 4 percent seen in May.