Industrial prices in Ukraine grew by 3.5% in March - Stats

Industrial prices in Ukraine grew by 3.5% in March - StatsIndustrial prices in Ukraine in March 2017 grew by 3.5%, while in January they rose by 3.1% and in January they fell by 0.3%, the State Statistics Service has said.

This is reported by Interfax-Ukraine.

The main reason for the increase last month was the rise in the prices of metal ore by 10.8%, and the cost of services to supply electricity and gas by 8.7%.

In March 2016 industrial prices rose by 4% and in annual terms as of February 1, 2017, industrial prices growth slowed to 38.3% from 38.9%.
In January-March 2017, industrial prices grew by 6.4%, while inflation was 3.9%.

Prices in mining and quarrying in March grew by 4.3%, including a rise of 12% in the production of iron ore, 2.5% stone, sand and clay and 0.2% in the production of natural gas. Prices in crude oil output fell by 6.4%.

Prices in processing industry grew by 1.5%. Prices in the production of coke and fuel rose by 3.1%, metal products, apart from machinery and equipment – by 1.9%, chemicals – 1.8%, rubber and plastic products and other nonmetal mineral products – by 1.7%.

Prices in the production of food, beverages, and tobacco rose by 1.1%. Prices in the production of sugar grew by 9%, bread 2.4%, dairy products 1.9%, flour products 0.9%, meat 0.6% and tobacco products 0.5%.

Prices grew by 8.7% in supplies of electricity, gas and conditioned air due to a rise in prices in electricity generation by 9.4% and heating tariffs by 0.5%.

As reported, industrial prices in Ukraine in 2016 increased by 35.7%, while in 2015 by 25.4%, in 2014 by 31.7%.

Inflation in Ukraine in 2016 slowed to 12.4% from 43.3% in 2015 and 24.9% in 2014.
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