General PPI of January 2023 decreased by 4.71% when compared with previous month (M-O-M).
General PPI of January 2023 decreased by 1.75% when compared with January 2022 (Y-O-Y).
PPI of Crude Petroleum and Natural gas production decreased by 5.61%, compared with September2022
Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for January 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 January 2023 is estimated at 129.59 points showing a decrease of 4.71%, when compared to the previous month’s December 2022. On [Y-o-Y] basis, PPI of January 2023 showed a decrease of 1.75%, when compared to the PPI of January 2022. Graph (1) shows the monthly of PPI and monthly rate of change from January 2022 to January 2023, also table (1) includes the PPI of January 2023 with monthly and yearly comparisons.
Mining and Quarrying:
The PPI of January 2023 for this sector showed a decrease by 5.61% when compared with PPI of December 2022, primarily due to the price decrease on “Crude petroleum and natural gas” by 5.61%, while no change in “Other mining and quarrying”. PPI of Mining of January 2023, when compared with its counterpart in previous year (January 2022), there was an increase of 0.82%. Graph (2) showed the monthly movement of “Mining an and Quarrying” index from January 2022 to January 2023, and Graph (3) showed the monthly rate of change in General PPI and Mining, also or the same period.
Manufacturing:
An increase of 0.08% has been recorded in January 2023, when compared with the previous month’s Manufacturing index (December 2022). The prices increase is seen in: “Refined petroleum products” by 7.49%, followed by “Rubber and plastics products” by 5.50%, “Cement & other non-metallic mineral products” by 0.93%, “Basic metals” by 0.89%, and “Beverages” by 0.82%, The decreasing prices are noticed in “Chemicals and chemical products” by 2.44%, and “Food products” by 0.49%. No change noticed in “Printing and reproduction of recorded media” in January 2023.
Comparing with the index of counterpart in the previous year (January 2022), “Manufacturing” PPI of January 2023 showed a decrease of 13.85%. The major groups which explain this price decrease are “chemicals and chemical products” by 23.10%, and “Basic metals” by 9.32%. However, the increasing prices are noticed in: “Printing and reproduction of recorded media” by 13.20%, followed by “Refined Petroleum products” by 12.39%, “Rubber and Plastics products” by 6.45%, “Food products” by 6.22%, “Beverages” by 0.95%, and “Cement & other non-metallic mineral products” by 0.09%. Graph (4) shows the index of “Manufacturing” from January 2022 to January 2023.
Electricity, gas, steam and air conditioning supply:
The PPI of this group showed an increase of 4.12% compared to December 2022. When compared the PPI of January 2023, to the PPI of January 2022 [Y-o-Y], showed a decrease of 8.29%. Graph (5) shows the index of “Electricity, gas, steam and air conditioning supply” from January 2022 to January 2022.
Water supply:
The PPI of this group showed a decrease of 4.19% compared to December 2022. When compared the PPI of January 2023, to the PPI of January 2022 [Y-o-Y], showed a decrease of 2.58%. Graph (6) shows the index of “Water supply” from January 2022 to January 2023.
