In September 2022, industrial production prices for the total (domestic market and non–domestic market) were down 1.0% versus August 2022.
In the extractive industry, the price of industrial production rose by 79.2%, in the processing industry by 20.53%, in the area of production and supply of electricity, thermal energy, gas by 163.2%, and in water distribution by 20.31 %. Therefore, shelf prices will continue their upward trend, but it remains to be seen how they will be absorbed by retailers through shrinking profit margins.
Industrial production prices are a key indicator for measuring inflation and for determining the GDP deflator (real economic growth is calculated by dividing nominal GDP by an index given by this deflator). The lower the Industrial Product Price Index (IPPI), the higher the GDP will be in real terms.