Malta’s producer prices declined at a faster pace in October, figures from the National Statistics Office showed Thursday.
The producer price index dropped 2.76 percent year-over-year in October, which was worse than the 2.57 percent decrease in the previous month. Producer prices have been falling since January this year.
Both domestic and foreign market producer prices slid by 3.32 percent and 2.32 percent, respectively in October from a year ago.
The annual decline in October was largely due to a 14.02 percent sharp fall in energy prices. Prices for intermediate goods slipped 3.45 percent, while prices index for durable consumer goods grew by 7.90 percent.
On a monthly basis, producer prices showed no variations in October, following a 0.45 percent rise in the preceding month.
The material has been provided by InstaForex Company – www.instaforex.com