- General PPI of March 2021 increased by 3.6% when compared with previous month (M-O-M).
- General PPI of March 2021, increased by 23.6% when compared with March,2020 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 4.5%, comparing with previous month.
Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for February 2021 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 March 2021 for this sector showed an increase by 4.5% when compared with PPI of February 2021, primarily due to the price increase of “Crude petroleum and natural gas" by 4.5%, and “Stone, Sand and Clay" increased by 0.1%. PPI of March 2021, when compared with its counterpart in previous year (March 2020), there was an increase of 27.8%.
Manufacturing:
An increase of 1.8% has been recorded in March 2021, when compared with the previous month's Manufacturing index (February 2021). The prices increase are seen in: “Basic Metals" by 2.9%, followed by “Refined Petroleum products" by 1.8%, “Basic Chemicals" by 1.7%, “Dairy products" by 0.6%, “Grain mill and Other products" by 0.3%. However, the decreasing prices are noticed in “Rubber and Plastics products" by 2.6%, “Cement and Other non-metallic products" by 0.8%, “Beverages" by 0.2%. While no change is noticed in “Juices", “Paper and Paper products", and “Other chemical products and fibers".
Comparing with the index of counterpart in the previous year (March 2020), “Manufacturing" PPI of March 2021 showed an increase of 15.7%. The major groups which explain this price increase are: “Basic chemicals" by 26.4%, followed by “Basic Metals" by 15.7%, “Refined Petroleum products" by 15.3%, “Paper and Paper Products" by 7.9%, "Juices" by 6.4%, “Dairy products" by 1.1%. However, prices fall in “Cement and Other non-metallic products" by 10.1%, followed by “Grain mill and Other products" by 1.5%, "Rubber and Plastics products" by 1.0%, “Other chemical products and fibers" by 0.8%, and “Beverages" by 0.2%.
Electricity and Water:
The PPI of this group showed a decrease of 6.4% compared to February 2021, resulting from fall prices in “Electricity" by 8.9%, and “Water" by 3.0%. When compared the PPI of March 2021, to the PPI of March, 2020 [Y-o-Y], showed an increase of 7.7%, affected by prices rise in “Water" by 15.2%, and “Electricity" by 2.7%.
Overall Index (PPI of Industrial sector):
The PPI for March,2021 is estimated at 60.8 points showing an increase of 3.6%, when compared to the previous month's February 2021. On [Y-o-Y] basis, PPI of March 2021 showed an increase of 23.6% when compared to the PPI of March,2020.
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