- General PPI of February 2023 decreased by 3.42% when compared with previous month (M-O-M).
- General PPI of February 2023 decreased by 7.23% when compared with February 2021 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production decreased by 3.60%, compared with January 2023
Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for February 2023, which calculated based on 2018 where the details of relative importance and prices for the base year of 2018 are used, Therefor the relatives of the main four industry sectors become as follow: “Mining” (weight: 82.46%), “Manufacturing” (weight: 15.85%), “Electricity” (weight: 1.15%), and “Water” (weight: 0.52%).
The PPI for February 2023 is estimated at 125.16 points showing a decrease of 3.42%, when compared to the previous month’s January 2023. On [Y-o-Y] basis, PPI of February 2023 showed a decrease of 7.23%, when compared to the PPI of February 2022.
Mining and Quarrying:
The PPI of February 2023 for this sector showed a decrease by 3.60% when compared with PPI of January 2023, primarily due to the price decrease on “Crude petroleum and natural gas” by 3.60%, while “Other mining and quarrying” increased by 0.02%. PPI of Mining of February 2023, when compared with its counterpart in previous year (February 2022), there was a decrease of 5.46%.
Manufacturing:
A decrease of 3.23% has been recorded in February 2023, when compared with the previous month’s Manufacturing index (January 2023). The prices decrease is seen in: “Basic metals” by 5.35%, followed “Refined petroleum products” by 5.28%, “Chemicals and chemical products” by 3.00%, and “Rubber and plastics products” by 2.25%. The increasing prices are noticed in “Cement & other non-metallic mineral products” by 0.45%, “Beverages” by 0.34%, and “Food products” by 0.14%. no change noticed in “Printing and reproduction of recorded media” in February 2023.
Comparing with the index of counterpart in the previous year (February 2022), “Manufacturing” PPI of February 2023 showed a decrease of 17.15%. The major groups which explain this price decrease are: “chemicals and chemical products” by 25.19%, followed by “Basic metals” by 11.93%, and “Refined Petroleum products” by 1.07%. However, the increasing prices are noticed in: “Printing and reproduction of recorded media” by 13.20%, followed by “Food products” by 6.10%, “Rubber and Plastics products” by 2.20%, “Beverages” by 1.31%, and “Cement & other non-metallic mineral products” by 0.74%. Graph (4) shows the index of “Manufacturing” from February 2022 to February 2023.
Electricity, gas, steam and air conditioning supply:
The PPI of this group showed an increase of 3.71% compared to January 2023. When compared the PPI of February 2023, to the PPI of February 2022 [Y-o-Y], showed an increase of 5.15%.
Water supply:
The PPI of this group showed an increase of 7.27% compared to January 2023. When compared the PPI of February 2023, to the PPI of February 2022 [Y-o-Y], showed an increase of 6.84%.
