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Press Release Monthly Producer Price Index of Industrial Sector January 2022 (Base year 2013=100)

3/3/2022
 
  • General PPI of January 2022 increased by 0.71% when compared with previous month (M-O-M).
  • General PPI of January 2021, increased by 62.86% when compared with January,2021 (Y-O-Y).
  • PPI of Crude Petroleum and Natural gas production increased by 1.06%, comparing with previous month.

Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for January 2022 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 January 2022 for this sector showed an increase by 1.06% when compared with PPI of December 2021, primarily due to the price increasing of “Crude petroleum and natural gas” by 1.06%, while “Stone, Sand and Clay” decrease by 0.74%. PPI of January 2021, when compared with its counterpart in previous year (January 2021), there was an increase of 68.63%. 

Manufacturing
 A decrease of 0.26% has been recorded in January 2021, when compared with the previous month’s Manufacturing index (December 2021). The prices increase is seen in: “Basic Metals” by 2.57%, followed by “Other chemical products and fibers” by 1.54%, “Grain mill and Other products” by 0.78%, “Rubber and Plastics products” by 0.45%, “Juices” by 0.24%, and “Dairy products” by 0.06%. However, the decreasing prices are noticed in “Cement and Other non-metallic products” by 2.82%, “Basic Chemicals” by 1.51%, “Beverages” by 0.61%,  and “Refined Petroleum products” by 0.06%, no change is noticed in “Paper and Paper products”.

Comparing with the index of counterpart in the previous year (January 2021), “Manufacturing” PPI of January 2022 showed an increase of 52.67%. The major groups which explain this price increase are: “Basic chemicals” by 101.65%, followed by “Refined Petroleum products” by 45.08%, “Basic Metals” by 33.44%, "Rubber and Plastics products” by 10.07%, “Paper and Paper Products” by 6.38%, “Cement and Other non-metallic products” by 3.86%, and “Grain mill and Other products” by 2.05%. However, prices fall in “Other chemical products and fibers” by 3.28%, “Beverages” by 1.89%. "Juices" by 0.70%, and “Dairy products” by 0.51%.  
  

Electricity and Water
The PPI of this group showed an increase of 10.95% compared to December 2021, resulting from prices rise in “Electricity” by 19.48%, and “Water” by 1.10%. When compared the PPI of January 2022, to the PPI of January 2021 [Y-o-Y], showed an increase of 21.77%, affected by prices rise in “Electricity” by 23.60%, and “Water” by 19.44%. 


Overall Index (PPI of Industrial sector)
The PPI for January,2021 is estimated at 93.32 points showing an increase of 0.71%, when compared to the previous month’s December 2021. On [Y-o-Y] basis, PPI of January 2022 showed an increase of 62.86% when compared to the PPI of January,2021.




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