General PPI of November 2023 decreased by 1.95% when compared with previous month (M-O-M).
General PPI of November 2023 decreased by 17.36% when compared with November 2022 (Y-O-Y).
PPI of Crude Petroleum and Natural gas production decreased by 1.58%, compared with October 2023.
Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for November 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: 1.16%), and “Water” (weight: 0.53%).
The PPI for November 2023 is estimated at 118.65 points showing a decrease of 1.95%, when compared to the previous month’s October 2023. On [Y-o-Y] basis, PPI of November 2023 showed a decrease of 17.36%, when compared to the PPI of November 2022. Graph (1) shows the monthly of PPI and monthly rate of change from November 2022 to November 2023, also table (1) includes the PPI of November 2023 with monthly and yearly comparisons.
Mining and Quarrying:
The PPI of November 2023 for this sector showed a decrease of 1.58% when compared with PPI of October 2023, primarily due to the price decrease on “Crude petroleum and natural gas” by 1.58%, and 0.02% ( almost stable) in “Other mining and quarrying”. PPI of Mining of November 2023, when compared with its counterpart in previous year (November 2022), there was a decrease of 18.43%, due to the price decrease on “Crude petroleum and natural gas” by 18.46%, while “Other mining and quarrying” has no change. Graph (2) showed the monthly movement of “Mining an and Quarrying” index from November 2022 to November 2023, and Graph (3) showed the monthly rate of change in General PPI and Mining.
Manufacturing:
A decrease of 4.47% has been recorded in November 2023, when compared with the previous month’s Manufacturing index (October 2023). The prices decrease is seen in: “Refined petroleum products” by 9.88%, followed by “Basic metals” by 9.02%, “Chemicals and chemical products” by 2.75%, and “Cement & other non-metallic mineral products” by 2.58%. The increasing prices are noticed in “Rubber and plastics products” by 3.85%, followed by “Food products” by 0.61%, and “Beverages” by 0.19%. There is no change in “Printing and reproduction of recorded media”.
Compared with the index of counterpart in the previous year (November 2022), “Manufacturing” PPI of November 2023 showed a decrease of 12.91%. The major groups which explain this price decrease are: “chemicals and chemical products” by 16.19%, followed by “Basic metals” by 12.47%, “Refined Petroleum products” by 9.54%, “Cement & other non-metallic mineral products” by 9.45%, and “Printing and reproduction of recorded media” by 0.16%. However, the increasing prices are noticed in “Rubber and Plastics products” by 9.00%, followed by “Food products” by 6.06%, and “Beverages” by 3.88%, and Graph (4) shows the index of “Manufacturing” from November 2022 to November 2023.
Electricity, gas, steam, and air conditioning supply:
The PPI of this group showed an increase of 8.60% compared to October 2023. When compared the PPI of November 2023, the PPI of November 2022 [Y-o-Y], showed an increase of 8.03%. Graph (5) shows the index of “Electricity, gas, steam and air conditioning supply” from November 2022 to November 2023.
Water supply:
The PPI of this group showed a decrease of 8.34% compared to October 2023. Compared to the to the PPI of November 2022 [Y-o-Y], showed an increase of 3.74%. Graph (6) shows the index of “Water supply” from November 2022 to November 2023.
