June 11, 2024
The industrial producer price index reached 116.6 points (base year 2021) in April 2024, representing a price decrease of 4.8% compared to April of the previous year, as Statistics Austria reports. In March 2024, the annual rate of change had been −6.3%, in February 2024 −6.4%. Thus, the price decline weakened slightly.
“Industrial producer prices continue to fall, but no longer at the same pace as at the start of the year. While the price decline in January was still 7.2%, it slowed to −4.8% in April 2024. The falling producer prices are primarily due to cheaper energy. However, the price decreases in April for both energy and intermediate goods were less pronounced than in the previous months,” says Tobias Thomas, Director General of Statistics Austria. The decrease of the industrial producer price index in April 2024 (−4.8%) was mainly caused by lower prices in the energy sector (−18.5%). Prices for intermediate goods decreased on average by 1.2% compared to the same month of the previous year. However, the prices for capital goods moved up by 3.1%, prices for consumer goods rose by 1.4% compared April 2023. Between March and April 2024, the industrial producer price index fell slightly by 0.1%
Source: Statistics Austria
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