- General PPI of May 2024 increased by 2.39% when compared with previous month (M-O-M).
- General PPI of May 2024 increased by 2.24% when compared with May 2023 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 3.30%, compared with April 2024.
The National Planning Council has released the new Monthly Producer Price Index (PPI) of the Industrial sector for May 2024, which calculated based on 2018. 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 May 2024 is estimated at 115.03 points showing an increase of 2.39%, when compared to the previous month April 2024. On [Y-o-Y] basis, PPI of May 2024 showed an increase of 2.24%, when compared to the PPI of May 2023.
Mining and Quarrying:
The PPI of May 2024 for this sector showed an increase of 3.30% when compared with PPI of April 2024, primarily due to the price increase in “Crude petroleum and natural gas” by 3.30%, and no change prices in “Other mining and quarrying”. PPI of Mining and Quarrying of May 2024, when compared with its counterpart in previous year (May 2023), there was an increase of 2.68%, due to the price increase in “Crude petroleum and natural gas” by 2.69%, while price decrease in “Other mining and quarrying” by 0.02%.
Manufacturing:
A decrease of 1.82% has been recorded in May 2024, when compared with the previous month Manufacturing index (April 2024). This is the result of falling pieces in three groups and raise prices in five others. The prices decrease is seen in: “Refined petroleum products” by 6.61% followed “Chemicals and chemical products” by 2.32% and “Printing and reproduction of recorded media” by 0.33%. The increasing prices are noticed in “Beverages” by 9.41%, followed by “Basic metals” by 3.27%, “Cement & other non-metallic mineral products” by 2.15%, “Food products” by 1.97% and “Rubber and plastics products” by 1.13%.
Compared with the index of counterpart in the previous year (May 2023), “Manufacturing” PPI of May 2024 showed a decrease of 0.17%. The major groups which explain this price decrease are: “Rubber and Plastics products” by 12.22% followed by “Basic metals” by 4.17%, “chemicals and chemical products” by 0.81% and “Printing and reproduction of recorded media” by 0.49%. However, the increasing prices are noticed in “Cement & other non-metallic mineral products” by 5.95% followed by “Food products” by 4.28%, “Refined Petroleum products” by 3.14% and “Beverages” by 1.33%.
Electricity, gas, steam, and air conditioning supply:
The PPI of this group showed a fall of 6.93% compared to April 2024. Compared to the PPI of May 2023 [Y-o-Y], the PPI of May 2024, showed an increase of 2.19%.
Water supply:
The PPI of this group showed a rise of 4.41% compared to April 2024. Compared to the PPI of May 2023 [Y-o-Y], the PPI of May 2024, showed an increase of 2.59%.
