Ιndustrial import price index drops by 5.6% drop in February

Import prices in industry recorded a decline in February, according to the data announced today by Hellenic Statistical Authority-ELSTAT.

The Overall Import Price Index (MPI) in Industry with base year 2015=100.0 in February 2023 recorded a decrease of 5.6% compared with February 2022. The corresponding index in February 2022 had recorded an increase of 27.2% compared with February 2021.

The Overall Index in February 2023 recorded a decrease of 3.4% compared with January 2023. The corresponding index in February 2022 had recorded an increase of 2.7% compared with January 2022.

The twelve-month average Overall Index from March 2022 to February 2023, increased by 21.7% in comparison with the corresponding index of the period from March 2021 to February 2022, while the increase recorded between the previous twelvemonth periods amounted to 25.3%.

1. Annual rates of change: February 2023 compared with February 2022

The decrease of 5.6% in the Overall Import Price Index in Industry in February 2023 compared with February 2022 is on account of the yearly changes of the sub-indices of the markets as follows:

More specifically, the aforementioned decrease for the overall market was the result of the yearly changes mainly of the sub-indices in the following NACE Rev.2 divisions:
a. 10.4% decrease in the MPI of the Non-Eurozone Market.
b. 5.2% increase in the MPI of the Eurozone Market.

2. Monthly rates of change: February 2023 compared with January 2023

More specifically, the aforementioned decrease for the overall market was the result of the monthly changes mainly of the sub-indices in the following NACE Rev.2 divisions:
The decrease of 3.4% in the Overall Import Price Index in Industry in February 2023 compared with January 2023 is on account of the monthly 5.1% decrease in the MPI of the Non-Eurozone Market, while the MPI of the Eurozone
Market remained unchanged.