Producer costs, 32.8% more expensive than in July 2021

Producer costs, 32.8% more expensive than in July 2021

The global supply crisis continues to hit the different sectors, and producer prices, in July, showed a difference of 32.85% compared to those they had in the same month of 2021.

(Antioquia and Bolívar, the regions with the highest mining formalization).

This figure was reported yesterday by the National Administrative Department of Statistics (Dane), in its bulletin of the producer price index (IPP), an indicator that measures the average variation experienced by the prices of a basket of goods representative of national production and imports. in its first stage of commercialization.

During the month of July of this year there was an increase of 2.6% in the costs faced by producers at the national level, when disaggregated, there was an increase of 1.29% in the costs of production for internal consumption and 5.36% in the case of exports.

from the other side the producer price index for domestic supply saw an increase of 2.64% in July, while for imported ones it is 6.05%.

This monthly variation was almost 1 percentage point (pps) higher than that of the reference month of last year, since in July 2021 the PPI increased 1.66%.

(Gold has not been a refuge due to the volatility of the markets).

By sectors, producer prices in the case of the mining and quarrying sector showed an increase of 3.20%, while in manufacturing industries the monthly increase was 2.88%, both above the national average. In the agricultural sector, producers experienced an increase in their costs of 0.80% in the month.

All of these were higher than the increases recorded in the past year.
In the month, the increases in inputs such as coal (9.67%), threshed or green coffee (9.78%) and gold (6.85%) stood out, which together contributed 0.93 percentage points to the variation of the monthly PPI.

Rise in the year to date and annual variation

When reviewing the annual behavior of the PPI, according to its components, the production for goods for domestic consumption has seen in the last year, with a cut to July, a rise in its costs of 25.34%, while in those exported the producers they have felt that their costs have increased by more than half of their value (51.3%). In July 2022 compared to July 2021 the mining (74.47%) and agriculture, livestock and fishing (37.37%) sectors presented variations higher than the national average, while the industry (19.96%) was below.

The subclasses of products that stood out for their positive contribution in the last twelve months were petroleum oils and oils obtained from bituminous minerals, crude (60.04%), coal, without agglomerating (166.84%) and other fuels (90 .22%), which together contributed 14.80 percentage points to the PPI variation between July 2021 and July 2022.

So far this year, on the other hand, producer costs have increased by 21.9%.

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