- General PPI of September 2023 increased by 5.42% when compared with previous month (M-O-M).
- General PPI of September 2023 decreased by 27.04% when compared with September 2022 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 5.55%, compared with August 2023.
Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for September 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 September 2023 is estimated at 119.66 points showing an increase of 5.42%, when compared to the previous month’s August 2023. On [Y-o-Y] basis, PPI of September 2023 showed a decrease of 27.04%, when compared to the PPI of September 2022.
Mining and Quarrying:
The PPI of September 2023 for this sector showed an increase of 5.55% when compared with PPI of August 2023, primarily due to the price increase on “Crude petroleum and natural gas” by 5.55%, while no change noticed in “Other mining and quarrying”. PPI of Mining of September 2023, when compared with its counterpart in previous year (September 2022), there was a decrease of 29.79%, due to the price decrease on “Crude petroleum and natural gas” by 29.82%, with a relatively stability at 0.02% for “Other mining and quarrying”.
Manufacturing:
An increase of 5.40% has been recorded in September 2023, when compared with the previous month’s Manufacturing index (August 2023). The prices increase is seen in: “Chemicals and chemical products” by 7.20%, “Refined petroleum products” by 5.80%, followed by “Food products” by 4.55%, “Basic metals” by 4.12%, and “Beverages” by 0.14%. The decreasing prices are noticed in “Rubber and plastics products” by 2.98%, and “Cement & other non-metallic mineral products” by 0.53%. No change noticed in “Printing and reproduction of recorded media” in September 2023.
Comparing with the index of counterpart in the previous year (September 2022), “Manufacturing” PPI of September 2023 showed a decrease of 10.23%. The major groups which explain this price decrease are: “Basic metals” by 16.38%, followed by “chemicals and chemical products” by 14.64%, and “Refined Petroleum products” by 1.48%. However, the increasing prices are noticed in “Food products” by 7.47%, “Beverages” by 3.41%, “Rubber and Plastics products” by 2.59%, and “Cement & other non-metallic mineral products” by 2.10%. No change noticed in “Printing and reproduction of recorded media”.
Electricity, gas, steam, and air conditioning supply:
The PPI of this group showed an increase of 0.16% compared to August 2023. When compared the PPI of September 2023, to the PPI of September 2022 [Y-o-Y], showed an increase of 1.17%.
Water supply:
The PPI of this group showed a decrease of 1.27% compared to August 2023. When compared the PPI of September 2023, to the PPI of September 2022 [Y-o-Y], showed an increase of 15.79%.
