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by Forex News – In Croatia, February 2024 saw a significant reduction in producer prices, marking a 1.7% drop compared to last year. This decrease is noted as the largest in more than three years. The reduction continued from January, which already had witnessed a 1.4% fall. This trend reflects changes in the cost of goods from producers, which can affect consumer prices later.
Key Sectors Witness Varied Price Movements
Different industries experienced diverse changes in their pricing. The mining and quarrying sectors faced a sharp decline of 17.8% in their producer prices. Similarly, there was a noticeable 5.3% decrease in the costs associated with electricity, gas, steam, and air conditioning supply.
However, the manufacturing sector saw a minor price reduction of only 0.5%. Conversely, the prices for water supply, sewerage, waste management, and remediation activities experienced a slight increase of 1%.
Monthly Analysis: Stability Amidst Fluctuations
Looking at the monthly comparison, February showed no change in producer prices from the previous month. This stability contrasts with the annual trend of decreasing prices. It suggests a moment of steadiness in the producer price index amidst fluctuating yearly trends.
This steadiness is crucial for businesses in planning and forecasting future expenses and pricing strategies.
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