- General PPI of October 2020, increased by 5.0% when compared with previous month (M-O-M).
- General PPI of October 2020, decreased by 25.7% when compared with October,2019 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 5.8%, comparing with previous month.
Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for October 2020 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, 2020 for this sector showed an increase by 5.8 % when compared with PPI of September 2020, primarily due to the price increase of “Crude petroleum and natural gas” by 5.8%, while “Stone, Sand and Clay” decreased by 0.5%. PPI of October 2020, when compared with its counterpart in previous year (October 2019), there was a decrease of 30.8%.
Manufacturing
An increase of 3.7% has been recorded in October 2020, when compared with the previous month’s Manufacturing index (September, 2020). The prices increase are seen in: “Refined Petroleum products” by 5.9%, followed by “Basic Metals” by 5.4%, “Paper and Paper products” by 1.0%, “Juices” by 0.5%, “Dairy products” by 0.3%, “Beverages” by 0.1%. However, the decreasing prices are noticed in “Other chemical products and fibers” by 3.3%, “Basic Chemicals" “Cement and Other non-metallic products” by 1.7% each%, “Rubber and Plastics products” by 0.8%, and “Grain mill and Other products” by 0.5%.
Comparing with the index of counterpart in the previous year (October 2019), “Manufacturing” PPI of October 2020 showed a decrease of 15.3%. The major groups which explain this price fall are: “Refined Petroleum products” by 19.6%, followed by “Basic chemicals” by 16.6%, “Other chemical products and fibers” by 6.9%, "Rubber and Plastics products” by 4.9%, Cement and Other non-metallic products” by 4.1%, “Dairy products” by 1.9%, “Beverages” by 0.5%, and “Grain mill and Other products” by 0.4%, However, prices increased in “Basic Metals” by 7.0%, "Juices", and “Paper and Paper Products” by 5.0 %each.
Electricity and Water
The PPI of this group showed an increase of 9.0% compared to September 2020, resulting from price increase in “Water” by 12.3%, and “Electricity” by 6.1%. When compared the PPI of October, 2020, to the PPI of October, 2019 [Y-o-Y], also showed an increase of 5.3%, affected by prices rise in “Water” by 5.7%, and in “Electricity” by 5.1%.
Overall Index (PPI of Industrial sector)
The PPI for October,2020 is estimated at 44.2 points showing an increase of 5.0%, when compared to the previous month’s September 2020. On [Y-o-Y] basis, PPI of October, 2020 showed a decrease of 25.7% when compared to the PPI of October,2019.
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