General PPI of February 2022 increased by 4.22% when compared with previous month (M-O-M).
General PPI of February 2022, increased by 65.69% when compared with February,2021 (Y-O-Y).
PPI of Crude Petroleum and Natural gas production increased by 5.38%, comparing with previous month.
Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for February 2022 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 2022 for this sector showed an increase by 5.37% when compared with PPI of January 2021, primarily due to the price increasing of “Crude petroleum and natural gas” by 5.38%, and “Stone, Sand and Clay” decrease by 0.13%. PPI of February 2021, when compared with its counterpart in previous year (February 2021), there was an increase of 72.68%. Graph (1) showed the monthly movement of “Mining” index during February 2021 and February 2021, and Graph (2) showed the monthly rate of change in General PPI and Mining.
Manufacturing
An increase of 2.17% has been recorded in February 2021, when compared with the previous month’s Manufacturing index (January 2021). The prices increase is seen in: “Refined Petroleum products” by 5.74%, followed by “Juices” by 2.92%, “Grain mill and Other products” by 0.50%, and “Rubber and Plastics products” by 0.46%. However, the decreasing prices are noticed in “Basic Chemicals” by 3.59%, “Basic Metals” by 2.48%, “Cement and Other non-metallic products” by 0.46%, “Dairy products” by 0.12%, and “Beverages” by 0.02%, no change is noticed in “Other chemical products and fibers”, and “Paper and Paper products”.
Comparing with the index of counterpart in the previous year (February 2021), “Manufacturing” PPI of February 2022 showed an increase of 53.61%. The major groups which explain this price increase are: “Basic chemicals” by 83.70%, followed by “Refined Petroleum products” by 52.71%, “Basic Metals” by 29.98%, "Rubber and Plastics products” by 10.16%, “Paper and Paper Products” by 6.38%, “Grain mill and Other products” by 2.46%, "Juices" by 2.19%, and “Cement and Other non-metallic products” by 1.82%. However, prices fall in “Other chemical products and fibers” by 7.53%, “Beverages” by 1.82%, and “Dairy products” by 0.05%.
Electricity and Water
The PPI of this group showed a decrease of 13.71% compared to January 2022, resulting from prices fall in “Water” by 14.81%, and “Electricity” by 12.90%, When compared the PPI of February 2022, to the PPI of February 2021 [Y-o-Y], showed a decrease of 2.12%, affected by prices fall in “Electricity” by 2.55%, and “Water” by 1.53%.
Overall Index (PPI of Industrial sector)
The PPI for February,2022 is estimated at 97.26 points showing an increase of 4.22%, when compared to the previous month’s January 2022. On [Y-o-Y] basis, PPI of February 2022 showed an increase of 65.69%, when compared to the PPI of February,2021. Graph (4) shows the monthly of PPI and monthly rate of change during February,2021 to February,2022, also table (1) includes the PPI of February 2022 with monthly and yearly comparisons.
