Gas collapses, producer prices fall in February
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After nineteen consecutive months of double-digit growth, manufacturing producer prices on a trend basis signaled a first turnaround in February. Gradual return from inflation which translates into an increase on an annual basis of 9.6%: only in June 2021 can a more modest value be found.
The result of a still hesitant and partial return path which nonetheless begins to consolidate as a result of the drop in energy prices. Here, in fact, between gas and electricity, it is the epicenter of the recovery, with a monthly drop in prices of 3.2% compared to the previous month.
A fall that drags the average down, with the general index slowing down by one point, the second consecutive drop after -7.5% in January.
As is logical to expect, the slowdown triggered by energy begins to spread in the price list system starting with upstream supplies, intermediate goods, which actually show a drop of 0.5% compared to January. The prices of consumer goods (+0.5%) and durable goods (+0.3%) instead continue to rise, albeit at a slower pace than a few months ago.
A scenario that can also be found within individual sectors, where it is precisely the intermediate sectors that show the most marked slowdown. Compared to January, the prices of chemicals, wood-paper and metallurgy are thus reduced, while the rubber-plastic area remains at a standstill. The increases for food (+0.1%) are modest, the last to take off after the strong opposition of the large-scale distribution towards the requests of the suppliers. In this case, the annual progress of the price lists is 13.8%, the largest increase among all the productive sectors, in any case down compared to the +16.5% recorded in December.
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