Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for April 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 April 2023 is estimated at 119.55 points showing a decrease of 1.97%, when compared to the previous month’s March 2023. On [Y-o-Y] basis, PPI of April 2023 showed a decrease of 23.38%, when compared to the PPI of April 2022.
Mining and Quarrying:
The PPI of April 2023 for this sector showed a decrease by 1.80% when compared with PPI of March 2023, primarily due to the price decrease on “Crude petroleum and natural gas” by 1.81%, while no change noticed in “Other mining and quarrying”. PPI of Mining of April 2023, when compared with its counterpart in previous year (April 2022), there was a decrease of 22.98%, due to the price decrease on “Crude petroleum and natural gas” by 23.01%, followed “Other mining and quarrying” by 3.78%
Manufacturing:
A decrease of 2.99% has been recorded in April 2023, when compared with the previous month’s Manufacturing index (March 2023). The prices decrease is seen in: “Refined petroleum products” by 5.48%, followed “Chemicals and chemical products” by 3.90%, “Food products” by 0.36%. The increasing prices are noticed in “Basic metals” by 1.22%, “Rubber and plastics products” by 1.21%, “Cement & other non-metallic mineral products” by 0.55%, and “Beverages” by 0.43%. and no change noticed in “Printing and reproduction of recorded media” in April 2023.
Comparing with the index of counterpart in the previous year (April 2022), “Manufacturing” PPI of April 2023 showed a decrease of 27.90%. The major groups which explain this price decrease are: “chemicals and chemical products” by 35.09%, followed by “Refined Petroleum products” by 26.51%, and “Basic metals” by 16.38%. However, the increasing prices are noticed in: “Rubber and Plastics products” by 8.08%, “Food products” by 5.93%, “Printing and reproduction of recorded media” by 1.40%, followed by “Beverages” by 1.01%, and “Cement & other non-metallic mineral products” by 0.14%.
Electricity, gas, steam and air conditioning supply:
The PPI of this group showed a decrease of 3.60% compared to March 2023. When compared the PPI of April 2023, to the PPI of April 2022 [Y-o-Y], showed an increase of 7.40%.
Water supply:
The PPI of this group showed an increase of 5.41% compared to March 2023. When compared the PPI of April 2023, to the PPI of April 2022 [Y-o-Y], showed an increase of 13.67%.
