General PPI of October2019, decreased by 3.1% when compared with previous month (M-O-M).
General PPI of October2019, decreased by 22.4% when compared with October,2018 (Y-O-Y).
PPI of Crude Petroleum and Natural gas production decreased by 3.8%, comparing with previous month.
Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for October 2019 with the base year 2013. Producer price index covers goods relating to “Mining” (weight: 72.7%),
“Manufacturing” (weight: 26.8%), and “Electricity & Water” (weight: 0.5%).
Mining
The PPI of October, 2019 for this sector showed a decrease by 3.8 % when compared with PPI of September 2019, primarily due to the decrease of “Crude petroleum and natural gas” prices by 3.8%. PPI of October 2019, when compared with its counterpart in previous year (October 2018), there has been a decrease of 24.1%. Graph (1) showed the monthly movement of “Mining” index during October 2018 and October 2019, while Graph (2) showed the monthly rate of change in General PPI and Mining.
Manufacturing
A decrease of 2.1% has been recorded in October 2019, when compared with the previous month’s Manufacturing index (September,2019). The prices decrease are seen in: “Basic Metals” by 3.1%, followed by “Refined Petroleum products” by 2.6%. “Rubber and Plastics products” by 1.1%, and “Basic Chemicals" by 0.9%, However, the increasing prices are noticed in: "Paper and Paper products” by 1.0%, followed by “Cement and Other non-metallic products” by 0.8%, “Juices”, “Dairy products”, and “Beverages” by 0.7% each, and “Grain mill and Other products” by 0.1%. No changes noticed in “Other chemical products and fibers”.
Comparing with the index of counterpart in the previous year (October 2018), “Manufacturing” PPI of October 2019 showed a decrease of 19.3%. The major groups which explain this price fall are: “Refined Petroleum products” by 22.6%, “Basic chemicals” by 15.8%, “Basic Metals” by 13.0%, and "Cement and Other non-metallic products” 2.3%, “Other chemical products and fibers” by 0.2%, and “Grain mill and Other products” by 0.1%. However, prices increased in "Juices" by 3.1%, followed by “Beverages”, and “Paper and Paper Products” by 2.6 % each, “Dairy products” by 1.8%, and "Rubber and Plastics products” by 0.7%. Graph (3) shows the graphical presentation of “Manufacturing” index during October, 2018 to October, 2019.
Electricity and Water
The PPI of this group showed an increase of 0.1% compared to September 2019, resulting from the increasing in “Water” by 1.2%, and decreasing in “Electricity” by 0.9%. When compared the PPI of October, 2019, to the PPI of October,2018 [Y-o-Y], showed a decrease of 6.4%, affected by prices fall in “Electricity” by 7.1%, and “Water” by 5.8%.
Overall Index (PPI of Industrial sector)
The PPI for October,2019 is estimated at 59.5 points showing a decrease by 3.1%, when compared to the previous month’s September, 2019. On [Y-o-Y] basis, PPI of October,2019 showed a decrease of 22.4% when compared to the PPI of October,2018. Graph (4) shows the monthly of PPI and rate of change during October,2018 to October,2019, also table (1) includes the PPI of October, 2019 with monthly and yearly comparisons.
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