- General PPI of August 2020, increased by 4.9% when compared with previous month (M-O-M).
- General PPI of August 2020, decreased by 33.1% when compared with August,2019 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 7.1%, comparing with previous month.
Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for August 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 August, 2020 for this sector showed an increase by 7.1 % when compared with PPI of July 2020, primarily due to the price increase of “Crude petroleum and natural gas” by 7.1%, and “Stone, Sand and Clay” increased by 1.1%. PPI of August 2020, when compared with its counterpart in previous year (August 2019), there was a decrease of 38.8%.
Manufacturing
An increase of 2.2% has been recorded in August 2020, when compared with the previous month’s Manufacturing index (July, 2020). The prices increase are seen in: “Basic Chemicals" by 2.5%, followed by “Refined Petroleum products” by 2.4%, “Paper and Paper products” by 2.0%, “Basic Metals” by 1.5%, and “Rubber and Plastics products” by 1.3%. However, the decreasing prices are noticed in “Juices” by 2.4%, “Cement and Other non-metallic products” by 1.9%, “Other chemical products and fibers” by 1.8%, “Dairy products” by 0.8%, “Grain mill and Other products” by 0.4%, and “Beverages” by 0.1%.
Comparing with the index of counterpart in the previous year (August 2019), “Manufacturing” PPI of August 2020 showed a decrease of 21.4%. The major groups which explain this price fall are: “Refined Petroleum products” by 26.6%, followed by “Basic chemicals” by 16.7%, “Basic Metals” by 11.5%, "Rubber and Plastics products” by 7.6%, “Other chemical products and fibers” by 4.2%, "Cement and Other non-metallic products” by 2.2%, and “Dairy products” by 1.6%. However, prices increased in “Paper and Paper Products” by 4.5 %, followed by "Juices" by 3.8%, “Beverages” by 0.5%, and “Grain mill and Other products” by 0.2%.
Electricity and Water
The PPI of this group showed an increase of 2.1% compared to July 2020, resulting from rise in “Water” by 2.2%, and “Electricity” by 1.8%. When compared the PPI of August, 2020, to the PPI of August, 2019 [Y-o-Y], showed also an increase of 0.6%, affected by prices rise in “Water” by 1.8%, but decline in “Electricity” by 0.6%.
Overall Index (PPI of Industrial sector)
The PPI for August,2020 is estimated at 40.9 points showing an increase of 4.9%, when compared to the previous month’s July 2020. On [Y-o-Y] basis, PPI of August, 2020 showed a decrease of 33.1% when compared to the PPI of August,2019.
