- General PPI of August 2022 increased by 3.17% when compared with previous month (M-O-M).
- General PPI of August 2022 increased by 54.25% when compared with August 2021 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 5.13%, compared with July 2022.
Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for August 2022, which is considered as the Sixth issues of PPI index calculated based on 2018. Where the details of relative importance and prices for the base year of 2018 are used, therefor the relatives of the main four industry sectors become as follow: “Mining” (weight: 82.46%), “Manufacturing” (weight: 15.85%), “Electricity” (weight: 1.15%), and “Water” (weight: 0.52%).
The PPI for August ,2022 is estimated at 167.49 points showing an increase of 3.17%, when compared to the previous month’s July 2022. On [Y-o-Y] basis, PPI of August 2022 showed an increase of 54.25%, when compared to the PPI of August 2021.
Mining and Quarrying:
The PPI of August 2022 for this sector showed an increase by 5.12% when compared with PPI of July 2022, primarily due to the price increase on “Crude petroleum and natural gas” by 5.13%, while “Other mining and quarrying” decrease by 1.56%. PPI of Mining of August 2022, when compared with its counterpart in previous year (August 2021), there was an increase of 63.86%.
Manufacturing:
A decrease of 8.07% has been recorded in August 2022, when compared with the previous month’s Manufacturing index (July 2022). The prices decrease is seen in: “Chemicals and chemical products” by 11.13%, followed by “Refined petroleum products” by 6.19%, “Basic metals” by 2.96%, “Printing and reproduction of recorded media” 0.16%, and “Cement & other non-metallic mineral products” by 0.07%, The increasing prices are noticed in “Rubber and plastics products” by 5.26%, “Beverages” by 0.17%, and “Food products” by 0.09%.
Comparing with the index of counterpart in the previous year (August 2021), “Manufacturing” PPI of August 2022 showed an increase of 12.99%. The major groups which explain this price increase are: “Rubber and Plastics products” by 42.55%, followed by “Refined Petroleum products” by 26.85%, “Basic metals” by 14.80%, “chemicals and chemical products” by 9.58%, “Cement & other non-metallic mineral products” by 9.19%, and “Food products” by 2.99%, However the decreasing prices are noticed in “Printing and reproduction of recorded media” by 4.05%, and “Beverages” by 1.29%.
Electricity, gas, steam and air conditioning supply:
The PPI of this group showed a decrease of 11.22% compared to July 2022. When compared the PPI of August 2022, to the PPI of August 2021 [Y-o-Y], showed a decrease of 1.71%.
Water supply:
The PPI of this group showed an increase of 4.63% compared to July 2022. When compared the PPI of August 2022, to the PPI of August 2021 [Y-o-Y], showed a decrease of 1.76%.
