General PPI of January 2020, decreased by 0.8% when compared with previous month (M-O-M).
General PPI of January 2020, decreased by 3.2% when compared with January,2019 (Y-O-Y).
PPI of Crude Petroleum and Natural gas production decreased by 0.7%, comparing with previous month.
Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for January 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 January, 2020 for this sector showed a decrease by 0.7 % when compared with PPI of December 2019, primarily due to the price decline of “Crude petroleum and natural gas” by 0.7%. PPI of January 2020, when compared with its counterpart in previous year (January 2019), there has been a decrease of 3.7%.
Manufacturing
A decrease of 1.0% has been recorded in January 2020, when compared with the previous month’s Manufacturing index (December,2019). The prices decrease are seen in: Basic Chemicals" by 1.8%, followed by “Beverages” by 1.6%, “Refined Petroleum products” by 1.4%, “Rubber and Plastics products” by 1.2%, and “Cement and Other non-metallic products” by 0.6%. However, the increasing prices are noticed in: “Basic Metals” by 2.8%, followed by “Other chemical products and fibers” by 2.1%, “Juices” by 0.5%, “Grain mill and Other products” by 0.2%," and “Dairy products” by 0.1%. No changes noticed in Paper and Paper products”.
Comparing with the index of counterpart in the previous year (January 2019), “Manufacturing” PPI of January 2020 showed a decrease of 1.9%. The major groups which explain this price fall are: “Basic Metals” by 11.4%, “Basic chemicals” by 7.0%,and "Cement and Other non-metallic products” 2.8%. However, prices increased in "Juices" by 3.9%, followed by “Paper and Paper Products” by 2.0 %, “Other chemical products and fibers” by 1.9%, "Rubber and Plastics products” by 1.3%, “Refined Petroleum products” by 1.2%. “Dairy products”, “Beverages”, and “Grain mill and Other products” are decreased by 0.3%.
Electricity and Water
The PPI of this group showed an increase of 2.7% compared to December 2019, resulting from the increasing in “Electricity” by 4.1%, and “Water” by 0.6%. When compared the PPI of January, 2020, to the PPI of January,2019 [Y-o-Y], showed an increase of 6.2%, affected by prices rise in “Water” by 7.7%, and “Electricity” by 5.1%.
Overall Index (PPI of Industrial sector)
The PPI for January,2020 is estimated at 63.6 points showing a decrease of 0.8%, when compared to the previous month’s December, 2019. On [Y-o-Y] basis, PPI of January,2020 showed a decrease of 3.2% when compared to the PPI of January,2019.
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