- General PPI of May 2021 increased by 7.5% when compared with previous month (M-O-M).
- General PPI of May 2021, increased by 92.1% when compared with May,2020 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 9.0%, comparing with previous month.
Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for May 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 May 2021 for this sector showed an increase by 8.8% when compared with PPI of April 2021, primarily due to the price increase of “Crude petroleum and natural gas” by 9.0%, and “Stone, Sand and Clay” increased by 0.6%. PPI of May 2021, when compared with its counterpart in previous year (May 2020), there was an increase of 117.2%.
Manufacturing
An increase of 5.2% has been recorded in May 2021, when compared with the previous month’s Manufacturing index (April 2021). The prices increase is seen in: “Basic Chemicals” by 8.6%, followed by “Rubber and Plastics products” by 5.4%, “Refined Petroleum products” by 4.6%, “Paper and Paper products” by 4.5%, “Basic Metals” by 3.6%, “Juices” by 1.2%, “Dairy products” by 0.6%, However, the decreasing prices are noticed in “Cement and Other non-metallic products” by 1.1%, “Beverages” by 0.7%, “Grain mill and Other products” by 0.2%. While no change is noticed in “Other chemical products and fibers”.
Comparing with the index of counterpart in the previous year (May 2020), “Manufacturing” PPI of May 2021 showed an increase of 58.9%. The major groups which explain this price increase are: “Refined Petroleum products” by 74.6%, followed by “Basic chemicals” by 66.8%, “Basic Metals” by 26.8%, “Paper and Paper Products” by 15.3%, "Rubber and Plastics products” by 8.5%, "Juices" by 3.7%, “Dairy products” by 0.4%. However, prices fall in “Cement and Other non-metallic products” by 8.1%, followed by “Beverages” by 1.1%, “Grain mill and Other products” by 0.7%, “Other chemical products and fibers” by 0.4%.
Electricity and Water
The PPI of this group showed a decrease of 5.1% compared to May 2021, resulting from fall prices in “Electricity” by 7.9%, and “Water” by 2.2%. When compared the PPI of May 2021, to the PPI of May 2020 [Y-o-Y], showed an increase of 7.0%, affected by prices rise in “Water” by 17.2%, however “Electricity” price declined by 1.3%.
Overall Index (PPI of Industrial sector)
The PPI for May,2021 is estimated at 65.7 points showing an increase of 7.5%, when compared to the previous month’s April 2021. On [Y-o-Y] basis, PPI of May 2021 showed an increase of 92.1% when compared to the PPI of May,2020.
