In June 2022, industrial producer prices jumped 24 percent year-on-year, posting an annual increase for the 16th month in a row and the highest single year-on-year increase since 2011, state news agency Hina said on Friday citing the state statistics bureau.

In March 2021, producer prices were up 3.5 percent year-on-year. In December the increase was 16.0 percent, followed by 17.1 percent in January, 17.2 percent in February, 19.5 percent in March, 21.9 percent in April and 23.7 percent in May.

Unsurprisingly to anyone, the jump was mainly due to exploding energy prices. Excluding energy, industrial producer prices in June 2022 were 0.7 percent up on the month and 9.6 percent on the year.

On the foreign market, industrial producer prices in June 2022 were 1.4 percent higher on the month and 15.8 percent on the year, while on the domestic market, they were up 0.8 percent on the month and 30.8 percent on the year.

On the domestic market, producer energy prices jumped 90 percent year-on-year in June 2022.