- General PPI of February 2021 increased by 2.4% when compared with previous month (M-O-M).
- General PPI of February 2020, decreased by 2.0% when compared with February,2020 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 2.9%, 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 February 2021 for this sector showed an increase by 2.9% when compared with PPI of January 2021, primarily due to the price increase of “Crude petroleum and natural gas” by 2.9%, and “Stone, Sand and Clay” increased by 0.5%. PPI of February 2021, when compared with its counterpart in previous year (February 2020), there was a decrease of 3.4%.
Manufacturing:
An increase of 1.3% has been recorded in February 2021, when compared with the previous month’s Manufacturing index (January 2021). The prices increase are seen in: “Basic Chemicals” by 5.8%, followed by “Other chemical products and fibers” by 4.6%, “Refined Petroleum products” by 0.5%, “Rubber and Plastics products” by 0.4%, “Grain mill and Other products”, and “Basic Metals” by 0.1% each, However, the decreasing prices are noticed in “Cement and Other non-metallic products” by 7.2%, “Dairy products” by 0.6%, and “Beverages” by 0.1%. while no change are noticed in “Paper and Paper products”, and “Juices”.
Comparing with the index of counterpart in the previous year (February 2020), “Manufacturing” PPI of February 2021 showed an increase of 0.8%. The major groups which explain this price increase are: “Basic Metals” by 18.7%, “Paper and Paper Products” by 7.9%, “Basic chemicals” by 7.5%,"Juices" by 6.4%, "Rubber and Plastics products” by 1.2%, “Dairy products” by 0.5%. and “Beverages” by 0.1%. However, prices fall in “Cement and Other non-metallic products” by 14.8%, followed by “Refined Petroleum products”, and “Other chemical products and fibers” by 2.8% each, and “Grain mill and Other products” by 0.4%.
Electricity and Water:
The PPI of this group showed an increase of 7.4% compared to January 2021, resulting from rise of prices in “Electricity” by 10.5%, and “Water” by 3.3%. When compared the PPI of February 2021, to the PPI of February, 2020 [Y-o-Y], showed an increase of 6.3%, affected by increase of prices rise in “Water” by 10.2%, and “Electricity” by 3.6%.
Overall Index (PPI of Industrial sector):
The PPI for February,2021 is estimated at 58.7 points showing an increase of 2.4%, when compared to the previous month’s January 2021. On [Y-o-Y] basis, PPI of February 2021 showed a decrease of 2.0% when compared to the PPI of February,2020.
