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Industrial Production Prices Show Increment in June 2024
According to the latest figures released by the National Institute of Statistics (NIS), the overall industrial production prices, encompassing both domestic and foreign markets, experienced an increase of 1.1% in June 2024 when compared to June 2023.
In the same period, the industrial production prices rose by 1.3% from May 2024 to June 2024. The data indicates a consistent upward trend, highlighting the dynamics of the industrial sector.
Mining Sector Experiences Price Fluctuations
In June 2024, the mining industry saw a decline of 4.59% compared to June 2023, although it recorded a 1.37% increase from May 2024. Notably, the extraction of both high and low-quality coal faced the most significant price drop, with a decrease of 20.06% year-on-year and 14.8% month-on-month.
Conversely, the ancillary services associated with extraction activities observed the most substantial price hikes during this period, indicating a shift in market dynamics and service demand within the sector.
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Industry Price Changes: June 2024 Analysis
According to recent reports, the overall industrial sector experienced a price increase of 6.72% in June 2024 compared to June 2023, and a rise of 1.10% from May 2024. This data highlights the ongoing trends in manufacturing and service costs within the economy.
Manufacturing Sector Insights
In the manufacturing industry, a notable increase of 2.12% was observed in June 2024 compared to the same month in 2023, while there was a slight decrease of 0.17% in comparison to May 2024. Among the various segments, the repair, maintenance, and installation of machinery and equipment saw the most significant price increase at 23.45% year-over-year from June 2023 and a marginal rise of 0.19% from May 2024.
Chemical Production Trends
On the other hand, the manufacturing of chemicals and related products experienced a price reduction of 4.37% in June 2024 when compared to June 2023, along with a decrease of 0.79% from May 2024. This decline reflects changing market conditions and demand within this sector.
Energy and Utilities Pricing
The production and supply of electricity, heating, gas, hot water, and air conditioning services saw a decrease of 1.32% in June 2024 compared to the previous year, although there was a significant increase of 5.27% from May 2024. This fluctuation indicates varying energy costs influenced by seasonal demands and other factors.
Water Services Cost Analysis
Furthermore, the costs associated with the capture, treatment, and distribution of water rose by 16.59% in June 2024 compared to June 2023, while prices remained stable when compared to May 2024. This rise in water service costs highlights the ongoing challenges in maintaining infrastructure and managing resource distribution.