Sunday, 19 September 2021 03:53

Producer prices increase: DIGESTYC

Written by Evelyn Alas

According to La Dirección General de Estadística y Censos (DIGESTYC), producer prices increased during august 2021, this is due to multiple factors that are generating hikes in finished products.

The price hikes in electricity, gas, steam and air conditioning supplies; accommodation and food service activities and real estate activities are the ones that have impacted producers the hardest whether they are small, medium or large according to the most recent study published by the DIGESTYC.

All consumers will now have to pay more for the use of services or products that require electrical energy for their manufacture or service.

In addition, food sales have been affected by the price increase, producers will have to accommodate the value in their services or products, so that they do not affect the customers who consume.

The monthly variation of august 2021 was 0.54%, showing an increase in prices with respect to july 2021, resulting from the increase in prices of Electricity Supply services, Transportation and Storage services as well as manufacturing industry among others.

Producer Price Index (PPI) sections, the twelve-month variation for august 2021 was 3.63%, due to a considerable price increase compared to july 2021. Twelve-month price increases occurred in the activities electricity supply services; accommodation and food service activities; human health care and human assistance activities.

Professional, scientific and technical activities administrative and support service activities human health care and social work activities arts, entertainment and recreation activities information and telecommunications manufacturing industries electricity, gas, steam and air conditioning supply activities from 0.31% to 1.61%.

For august, the section with negative cumulative variation is: Other service activities (-0.14%).