Saturday, 15 March 2025
The start of 2025 saw an acceleration in agricultural product price growth, while industrial producers continued to sell goods at lower prices compared to the previous year. Meanwhile, construction work prices increased at the slowest pace in more than three and a half years, marking the slowest growth since June 2021.
In January, agricultural producers experienced a significant rise in product prices, exceeding 7%, the highest increase since April 2023. In contrast, industrial producers sold goods at prices nearly 3% lower than a year ago.
Industrial Producer Prices
The prices of industrial producers for the domestic market were 2.5% lower year-on-year in January 2025. Only six of the 16 monitored industry sectors maintained lower prices. A significant factor in the overall decline was the 7.7% drop in energy prices. The production of coke and petroleum products also fell by 3.2%, while the prices in vehicle and metal production declined by 0.7%. On the other hand, water supply prices saw a 7.9% increase, and rubber and plastic production prices rose by 4.8%. In a month-on-month comparison, industrial producer prices for the domestic market increased by 0.4%.
For exports, industrial producer prices recorded a year-on-year increase of 1.4% and a month-on-month rise of 0.7%.
Agricultural Product Prices
In January 2025, agricultural product prices grew significantly by 7.6% year-on-year, with vegetable product prices increasing by 5.3%. Notably, cereals rose by 10.9%, pulses by 11.5%, and fruits and nuts by 14.3%. However, oilseeds and fruits experienced a slight decrease of 1.5%, while potato prices fell by 7.6%. Vegetable prices recorded a double-digit decline of 15.9%.
Animal product prices surged by 10.9% year-on-year, driven by increases in beef for slaughter, including calves (+6%), chicken eggs (+14%), and cow’s milk (+8.1%).
Construction Producer Prices
Construction work prices at the beginning of 2025 were 3.3% higher year-on-year and increased by 0.3% compared to December 2024. The cost of materials used in construction saw a month-on-month rise of 0.2% and was 1.9% higher year-on-year.
The data reflect mixed economic conditions, with agricultural and construction prices continuing their upward trajectory, while industrial producer prices remain under pressure from reduced energy and manufacturing costs.
Source: Statistical Office of the SR
