Industrial inflation, or factory inflation, as it is also called, was 52.3% year-on-year in July, Statistics said on Friday.
Compared to the previous month, the increase was 5.2%.
This is a bad sign for the pockets of all of us, signaling that shelf prices will continue to rise in the period ahead, and it is hard to imagine that they will be absorbed by retailers due to shrinking profit margins.
Prices of industrial products are a key indicator for measuring inflation and for determining the GDP deflator (real economic growth is calculated by dividing nominal GDP by the index derived from this deflator). The lower the IPPI, the higher the GDP in real terms.
The Industrial Product Price Index (IPPI) is based on a monthly survey and measures the average price dynamics of goods produced in Romania and sold directly by producers, both on the domestic and foreign markets.
Source: Hot News RO
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