Producer prices decreased slightly in April. On year-on-year basis the inflation in producer prices decelerated more than expected. The index is driven lower by electronic and computer products, vehicles and machinery. On the other hand, refined petroleum products and coke are the main source of upward pressures on the index. However, this pressure will likely ease in May figures as crude oil corrected its April surge. The data do not have big implications for monetary policy. Interest rates are still expected to stay flat.
Actual (Apr): -0.3 % m/m, 4.9 % y/y
Consensus: 5.1 % y/y
Previous (Mar): 0.0 % m/m, 6.6 % y/y