LatinNews Daily - 25 July 2023

In brief: Producers’ price index for industries falls in Chile

* Chile’s national institute of statistics (INE) has released new figures showing that the producer price index (PPI) for industries (comprising the manufacturing, mining, and energy, gas & water sectors) has reduced by 9.5% in June 2023 compared to the same period of last year. In the first six months of 2023, the PPI dropped by 5.5%, according to the INE. The annual decrease was mostly influenced by the mining sector, with the PPI decreasing by 16.4% in this sector compared to June 2022, particularly due to the extraction and production of copper, which decreased by 13.4 %. The manufacturing sector’s PPI decreased by 2% in the past year and 6% in the past six months which the INE attributed to the production of wood pulp, paper, and cardboard, which decreased by 29.5% compared to June 2022. However, the PPI of the energy, gas & water sector increased by 8.5 % in June 2023 in annual terms, driven by the generation and distribution of energy, which increased by 13.5%.

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