INDUSTRIAL PRODUCER PRICE INDEX, MAY 2024

Producer prices of industrial products (total)

Producer prices of industrial products for total industry decreased by 2.7% in May 2024 compared to April 2024 and by 3.3% compared to May 2023.

Comparison of producer prices of industrial products for total industry, excluding Energy, shows that they increased by 0.1% in May 2024 compared to April 2024, while compared to May 2023, they decreased by 0.2%.

Producer prices of industrial products on the domestic market (total)

Producer prices of industrial products on the domestic market for total industry decreased by 4.1% in May 2024 compared to April 2024 and by 4.6% compared to May 2023.

Comparison of producer prices of industrial products on the domestic market for total industry, excluding Energy, shows that they remained stable in May 2024 compared to April 2024, while they increased by 0.7% compared to May 2023.

Producer prices of industrial products on the non-domestic market (total)

Producer prices of industrial products on the non-domestic market for total industry decreased by 0.3% in May 2024 compared to April 2024 and by 0.5% compared to May 2023.

Comparison of producer prices of industrial products on the non-domestic market for total industry, excluding Energy, shows that they increased by 0.2% in May 2024 compared to April 2024, while they decreased by 1.0% compared to May 2023.

Producer prices of industrial products on the non-domestic market for total industry for the euro area and the non-euro area

Producer prices of industrial products on the non-domestic market for total industry for the euro area decreased by 0.1% in May 2024 compared to April 2024.

Producer prices of industrial products on the non-domestic market for total industry for the non-euro area decreased by 1.0% in May 2024 compared to April 2024.

MIGs 2009 aggregates

Producer prices of industrial products (total)

In May 2024 compared to April 2024, producer prices of industrial products increased in Durable consumer goods by 0.6% and in Non-durable consumer goods by 0.3%, while they decreased in Energy by 8.0%, in Capital goods by 0.2% and in Intermediate goods by 0.1%.

In May 2024 compared to May 2023, producer prices of industrial products increased in Durable consumer goods by 2.3% and in Non-durable consumer goods by 1.2%, while they decreased in Energy by 6.0%, in Intermediate goods by 1.6% and in Capital goods by 0.7%.

Producer prices of industrial products on the domestic market

In May 2024 compared to April 2024, producer prices of industrial products increased in Intermediate goods by 0.1%, while they decreased in Energy by 8.1%, in Capital goods by 0.2%, in Durable consumer goods by 0.1% and in Non-durable consumer goods by 0.1%.

In May 2024 compared to May 2023, producer prices of industrial products increased in Non-durable consumer goods by 1.8% and in Durable consumer goods by 0.8%, while they decreased in Energy by 6.4%, in Capital goods by 1.5% and in Intermediate goods by 0.1%.

 

MIGs 2009 aggregates		NKD 2007 sections
AI	Intermediate goods	B	Mining and quarrying
AE	Energy	C	Manufacturing
BB	Capital goods	D	Electricity, gas, steam and air conditioning supply
CD	Durable consumer goods	E	Water supply; sewerage, waste management
CN	Non-durable consumer goods		and remediation activities

 

Producer prices of industrial products on the non-domestic market

In May 2024 compared to April 2024, producer prices increased in Durable consumer goods by 1.0% and in Non-durable consumer goods by 0.9%, while they decreased in Energy by 7.2%, in Intermediate goods by 0.2% and in Capital goods by 0.1%.

In May 2024 compared to May 2023, producer prices increased in Energy by 6.2%, in Durable consumer goods by 3.2% and in Non-durable consumer goods by 0.4%, while they decreased in Intermediate goods by 2.6% and in Capital goods by 0.1%.

NKD 2007 industrial sections

Producer prices of industrial products (total)

In May 2024 compared to April 2024, producer prices increased in Mining and quarrying by 6.0%, they decreased in Electricity, gas, steam and air conditioning supply by 9.3% and in Manufacturing by 0.9%, while they remained stable in Water supply; sewerage, waste management and remediation activities (only division 36).

In May 2024 compared to May 2023, producer prices increased in Water supply; sewerage, waste management and remediation activities (only division 36) by 1.6% and in Manufacturing by 0.5%, while they decreased in Mining and quarrying by 18.0% and in Electricity, gas, steam and air conditioning supply by 9.1%.

Producer prices of industrial products on the domestic market

In May 2024 compared to April 2024, producer prices increased in Mining and quarrying by 6.3%, they decreased in Electricity, gas, steam and air conditioning supply by 9.3% and in Manufacturing by 1.4%, while they remained stable in Water supply; sewerage, waste management and remediation activities (only division 36).

In May 2024 compared to May 2023, producer prices increased in Manufacturing by 1.7% and in Water supply; sewerage, waste management and remediation activities (only division 36) by 1.6%, while they decreased in Mining and quarrying by 18.9% and in Electricity, gas, steam and air conditioning supply by 9.1%.

MIGs 2009 aggregates		NKD 2007 sections
AI	Intermediate goods	B	Mining and quarrying
AE	Energy	C	Manufacturing
BB	Capital goods	D	Electricity, gas, steam and air conditioning supply
CD	Durable consumer goods	E	Water supply; sewerage, waste management
CN	Non-durable consumer goods		and remediation activities

 

Producer prices of industrial products on the non-domestic market

In May 2024 compared to April 2024, producer prices decreased in Manufacturing by 0.3%, while they remained stable in Mining and quarrying.

In May 2024 compared to May 2023, producer prices increased in Mining and quarrying by 11.0%, while they decreased in Manufacturing by 0.6%.

NKD 2007 Divisions
06	Extraction of crude petroleum and natural gas
08	Other mining and quarrying
09	Mining support service activities
10	Manufacture of food products
11	Manufacture of beverages
12	Manufacture of tobacco products
13	Manufacture of textiles
14	Manufacture of wearing apparel
15	Manufacture of leather and related products
16	Manufacture of wood and of products of wood and cork, except furniture;
	manufacture of articles of straw and plaiting materials
17	Manufacture of paper and paper products
18	Printing and reproduction of recorded media
19	Manufacture of coke and refined petroleum products
20	Manufacture of chemicals and chemical products
21	Manufacture of basic pharmaceutical products and pharmaceutical preparations
22	Manufacture of rubber and plastic products
23	Manufacture of other non-metallic mineral products
24	Manufacture of basic metals
25	Manufacture of fabricated metal products, except machinery and equipment
26	Manufacture of computer, electronic and optical products
27	Manufacture of electrical equipment
28	Manufacture of machinery and equipment n. e. c.
29	Manufacture of motor vehicles, trailers and semi-trailers
30	Manufacture of other transport equipment
31	Manufacture of furniture
32	Other manufacturing
33	Repair and installation of machinery and equipment
35	Electricity, gas, steam and air conditioning supply
36	Water collection, treatment and supply

NOTES ON METHODOLOGY

Introduction

Industrial producer price indices on the domestic, non-domestic and total market are presented on an interannual chain and on a month-on-month basis as well as on the fixed base year 2021 = 100 due to the harmonisation with the Regulation (EU) 2019/2152 of the European Parliament and of the Council of 27 November 2019 on European business statistics, repealing 10 legal acts in the field of business statistics.

Concepts, definitions and terminology are completely harmonised with those used and regulated by the EU. Therefore, the term "industrial producers’ price index" has been changed to “industrial producer price index".

According to the EU terminology, the term "industrial producer price index" is also known as the "industrial output index" and the term "industrial producer prices" should be considered its synonym. If not specified, the term "industrial producer price index" denotes the "total industrial producer price index" (on the domestic and the non-domestic market).

The concept of industrial producer prices and their purpose

Total industrial producer price index is composed of two sub-indices, that is, the industrial producer price index on the domestic market and the industrial producer price index on the non-domestic market. The combination of sub-indices for these two markets provides the changes in given products/services, while their aggregation provides the divisions of products and activities.

Industrial producer price index measures the changes of producer prices of manufactured goods produced in the Republic of Croatia and sold by producers on the domestic (Croatian) and/or the non-domestic (non-Croatian) market.

Industrial producer price index on the domestic market measures the changes of producer prices of manufactured goods that are produced and sold by producers on the domestic (Croatian) market.

Industrial producer price index on the non-domestic market, further subdivided into the euro area and the non-euro area, measures the changes of producer prices of manufactured goods that are sold by producers on foreign (non-Croatian) market.

The industrial producer price index is an important short-term indicator of the business cycle that shows monthly price changes in the total industrial sector (the NKD 2007 sections B, C, D and E – only division 36) on the domestic and the non-domestic market and further subdivided into the euro area and the non-euro area. According to the EU concept, it is an important business indicator that permits monthly monitoring of prices at different stages of the manufacturing process. It is also used for distinguishing effective growth of an activity due to price changes and provides information to the business community on particular markets of their interest. It can also indicate inflationary changes before they reach consumers.

Presentation of the industrial producer price index

All indices are presented in gross (unadjusted) form. They were calculated on the basis of data collected through the revised Monthly Survey on Industrial Producer Prices (IND-3/KPS/M form) for 2024.

Legal and methodological framework

The Monthly Survey on Industrial Producer Prices (IND-3/KPS/M form) in 2024 is carried out directly by the Croatian Bureau of Statistics on the basis of the Official Statistics Act (NN, No. 25/20). The internet application (CAWI method) is used in data collection. The reporting units directly access this application and enter their data on the basis of the instructions given.

The concepts and definitions used in the IND-3/KPS/M Survey are harmonised with the EU concepts and definitions, in particular with the basic Regulation (EU) 2019/2152 of the European Parliament and of the Council and Commission Implementing Regulation (EU) 2020/1197.

Scope and coverage

The reporting units included in the IND-3/KPS/M Survey are selected enterprises and parts thereof (legal entities and tradesmen) that produce selected products as defined in the Nomenclature of Industrial Products – NIP 2022, classified in the NKD 2007 (NN, Nos 58/07 and 72/07) activity sections B Mining and quarrying, C Manufacturing, D Electricity, gas, steam and air conditioning supply, and E Water supply; sewerage, waste management and remediation activities (only division 36).

In order to collect data on industrial producer prices on the domestic and the non-domestic market, the IND-3/KPS/M Survey for 2024 covers a representative sample of industrial products at the level of covered activity classes of the NKD 2007, that is, all products that generated sales exceeding 3 million euros on the domestic market and 2 million euros on the non-domestic market according to the results of the PRODCOM Survey on Industrial Production (IND-21/PRODCOM/G form) for 2022. The selection of enterprises has been done according to their share in the production of selected products, separately for the domestic and the non-domestic market.

For monitoring the industrial producer prices on the domestic market, the sample for the IND-3/KPS/M Survey for 2024 covers 1 688 item prices within the selected NIP 2022 products in 1 028 enterprises (legal entities and tradesmen), while for monitoring industrial producer prices on the non-domestic market, it covers 1 084 item prices within the selected NIP 2022 products in 660 enterprises (legal entities and tradesmen). In May 2024, the response rate was 98.3%, while the estimation rate of non-responded questionnaires was 1.7%.

Reference point

All industrial producer prices are recorded as transaction prices in effect on the 15th day of the month indicated. The prices at which a producer sells products on the domestic and/or the non-domestic market in the largest quantities to a known buyer are recorded.

Completed IND-3/KPS/M forms are delivered directly on the website of the Croatian Bureau of Statistics in the period from 16th to 26th of the current reporting month (https://podaci.dzs.hr/en/).

Definitions

Producer price indices on the domestic and the non-domestic market require a separate compilation according to the destination of a product in order to obtain the producer price indices on the domestic and the non-domestic market.

The residency of the third party that has ordered or purchased the product determines the destination. The domestic market is defined when both the third party/buyer and the reporting unit are residents of the Republic of Croatia, while the non-domestic market is defined when the third party/buyer is not a resident of the Republic of Croatia.

Industrial producer prices on the domestic market are either the prices at which a producer sells products on the domestic market in the largest quantities, loaded free on a rail (truck) at a factory gate at the location of the producer or the price charged to another company by the producer. The selling price is increased for the amount of the compensation obtained by the seller and deducted for the amount of the discount and rebate as well as the value added tax and excises.

Industrial producer prices on the non-domestic market are the prices at which a producer sells products on the non-domestic market in the largest quantities at the national border, FOB (free on board). The selling price is increased for the amount of the compensation obtained by the seller and deducted for the amount of the discount and rebate as well as the value added tax and excises.

Reporting of data for the non-domestic market according to the euro area criterion

The territory of the European Union (EU-27) comprises the national territories of 27 EU Member States, and the data for producer prices of items sold on the non-domestic market are reported for the European Union market according to the criterion of the national markets of the Member States using the euro as currency (from the euro area) and those Member States not using the euro as currency (from the non-euro area). For the reporting of data in 2024, the following country composition of the euro area applies:

From the euro area (EA-19) − refers to the territories of 19 EU Member States that have adopted a common currency (euro), i.e. Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.

From the non-euro area (EU-7) − refers to the territory of the other seven EU Member States that have not yet adopted a common currency (euro), i.e. to Bulgaria, the Czech Republic, Denmark, Hungary, Poland, Romania and Sweden, and to other non-EU states.

Calculation method

Total industrial producer price index is composed of two sub-indices, that is, the industrial producer price index on the domestic market and the industrial producer price index on the non-domestic market.

Industrial producer price indices on the domestic market and the non-domestic market are calculated according to the Laspeyres formula for different levels of the NKD 2007.

Individual indices for each representative product are calculated from data on prices by dividing prices of the current period by prices of the base period (December of the previous year).

Aggregate indices, that is, indices of groups, divisions and sections of the NKD 2007 as well as the total industry index are calculated by a weighted arithmetic mean from individual indices according to the modified Laspeyres formula:

Whereby:

I is an index of a group, division, section, subsection and the total index
Pn is a price in the current period (month)
Po is a price in the base period
Wo is the relative sale structure in the base period.

Weights

The weighting system for the 2024 reference year is based on the value of products sold from the PRODCOM Survey on Industrial Production (IND-21/PRODCOM/G form) for 2022. The weighting system is changed at the beginning of every reference year in relation to changes in prices.

Data publishing

The total industrial producer price indices, both on the domestic and the non-domestic market, are published for the total industry according to the NKD 2007 sections and divisions and according to MIGs 2009 aggregates (end use of products) grouped by the NKD 2007 activity groups and divisions. The total industrial producer price indices on the non-domestic market, subdivided into the euro area and the non-euro area, are published for the total industry according to the NKD 2007 and according to the MIGs 2009 aggregates, at constant base 2021 = 100, in the STS database https://stsbaza.dzs.hr/en.

The grouping of the NKD 2007 activity groups or divisions according to the MIGs 2009¹⁾, using alphabetic marks of abbreviations, was done as follows:

AI	Intermediate goods: the NKD 2007 divisions and groups: 07 (excl. 07.21) – 09, 10.6, 10.9, 13.1 – 13.3, 16, 17, 20.1 – 20.3, 20.5, 20.6, 22 – 24 (excl. 24.46), 25.5 – 25.7, 25.9, 26.1, 26.8, 27.1 – 27.4 and 27.9
AE	Energy: the NKD 2007 divisions: 05, 06, 19, 35 and 36
BB	Capital goods: the NKD 2007 divisions and groups: 25.1 – 25.3, 26.2, 26.3, 26.5, 26.6, 28, 29, 30.2, 32.5 and 33
CD	Durable consumer goods: the NKD 2007 divisions and groups:  26.4, 26.7, 27.5, 30.9, 31, 32.1 and 32.2
CN	Non-durable consumer goods: the NKD 2007 divisions and groups: 10.1 – 10.5, 10.7, 10.8, 11, 12, 13.9, 14, 15, 18, 20.4, 21, 32.3, 32.4 and 32.9.

1) The Commission Implementing Regulation (EU) 2020/1197 of 30 July 2020 laying down technical specifications and arrangements pursuant to Regulation (EU) 2019/2152 of the European Parliament and of the Council, as regards the definitions of Main Industrial Groupings (MIGs).

 

The survey whose data are published in this First Release has been conducted with the financial assistance of the European Union. The contents of this document are the sole responsibility of the Croatian Bureau of Statistics and can under no circumstances be regarded as reflecting the position of the European Union.

 

Abbreviations
CAWI	computer-assisted web interview
EU	European Union
MIGs 2009	Main Industrial Groupings, 2009 version
n. e. c.	not elsewhere classified
NIP 2022	Nomenclature of Industrial Products, 2022 version
NKD 2007	National Classification of Activities, 2007 version
NN	Narodne novine, official gazette of the Republic of Croatia
PRODCOM	PRODucts of the European COMmunity

 

Symbols
...	data not available

 

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