- General PPI of October 2023 increased by 1.13% when compared with previous month (M-O-M).
- General PPI of October 2023 decreased by 18.27% when compared with October 2022 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 1.19%, compared with September 2023.
Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for October 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 October 2023 is estimated at 121.01 points showing an increase of 1.13%, when compared to the previous month’s September 2023. On [Y-o-Y] basis, PPI of October 2023 showed a decrease of 18.27%, when compared to the PPI of October 2022.
Mining and Quarrying:
The PPI of October 2023 for this sector showed an increase 1.19% when compared with PPI of September 2023, primarily due to the price increase on “Crude petroleum and natural gas” by 1.19%, while no change noticed in “Other mining and quarrying”. PPI of Mining of October 2023, when compared with its counterpart in previous year (October 2022), there was a decrease of 20.09%, due to the price decrease on “Crude petroleum and natural gas” by 20.11%, but “Other mining and quarrying” increased by 0.02%.
Manufacturing:
An increase of 0.67% has been recorded in October 2023, when compared with the previous month’s Manufacturing index (September 2023). The prices increase is seen in: “Basic metals” by 5.83%, followed by “Chemicals and chemical products” by 1.38%, “Rubber and plastics products” by 0.67% “Refined petroleum products” by 0.62%, “Beverages” by 0.26%. The decreasing prices are noticed in “Cement & other non-metallic mineral products” by 9.19%, “Food products” by 0.53%. “Printing and reproduction of recorded media” by 0.16%.
Compared with the index of counterpart in the previous year (October 2022), “Manufacturing” PPI of October 2023 showed a decrease of 8.87%. The major groups which explain this price decrease are: “chemicals and chemical products” by 13.51%, followed by “Basic metals” by 9.83%, “Cement & other non-metallic mineral products” by 7.29%, “Printing and reproduction of recorded media” by 0.16%. However, the increasing prices are noticed in “Food products” by 6.80%, “Rubber and Plastics products” by 4.02%, “Beverages” by 3.68%, and “Refined Petroleum products” by 2.97%.
Electricity, gas, steam, and air conditioning supply:
The PPI of this group showed an increase of 7.63% compared to September 2023. When compared the PPI of October 2023, the PPI of October 2022 [Y-o-Y], showed an increase of 4.97%.
Water supply:
The PPI of this group showed a decrease of 5.92% compared to September 2023. Compared to the to the PPI of October 2022 [Y-o-Y], showed an increase of 10.50%.
