- General PPI of November 2020 increased by 6.1% when compared with previous month (M-O-M).
- General PPI of November 2020, decreased by 24.6% when compared with November,2019 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 8.1%, comparing with previous month.
Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for November 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 November, 2020 for this sector showed an increase by 8.1 % when compared with PPI of October 2020, primarily due to the price increase of “Crude petroleum and natural gas” by 8.1%, while “Stone, Sand and Clay” decreased by 0.2%.
PPI of November 2020, when compared with its counterpart in previous year (November 2019), there was a decrease of 29.6%. Graph (1) showed the monthly movement of “Mining” index during November 2019 and November 2020, while Graph (2) showed the monthly rate of change in General PPI and Mining.
Manufacturing
An increase of 2.4% has been recorded in November 2020, when compared with the previous month’s Manufacturing index (October 2020). The prices increase are seen in: “Refined Petroleum products” by 3.5%, followed by “Basic Metals” by 2.3%, “Beverages” by 1.0%,“Rubber and Plastics products” by 0.4%, and “Dairy products” by 0.1%.
However, the decreasing prices are noticed in “Cement and Other non-metallic products” by 2.3%, and “Grain mill and Other products” by 0.5%. while no change are noticed in “Juices”, “Paper and Paper products”, “Other chemical products and “Basic Chemicals”
Comparing with the index of counterpart in the previous year (November 2019), “Manufacturing” PPI of November 2020 showed a decrease of 14.1%. The major groups which explain this price fall are: “Refined Petroleum products” by 19.2%, followed by “Basic chemicals” by 12.6%, “Other chemical products and fibers” by 6.9%, Cement and Other non-metallic products” by 6.0%, "Rubber and Plastics products” by 4.5%, “Grain mill and Other products” by 1.0%, and “Dairy products” by 0.2%.
However, prices increased in “Basic Metals” by 12.1%, “Paper and Paper Products” by 5.0 %, "Juices" by 4.9%, and “Beverages” by 1.5%.
Electricity and Water
The PPI of this group showed an increase of 1.7% compared to October 2020, resulting from price increase in “Electricity” by 3.5%, while price decrease in “Water” by 0.2%.
When compared the PPI of November, 2020, to the PPI of November, 2019 [Y-o-Y], also showed an increase of 1.9%, affected by prices rise in “Water” by 11.9%, but the prices are dropped in “Electricity” by 5.9%.
Overall Index (PPI of Industrial sector)
The PPI for November,2020 is estimated at 46.9 points showing an increase of 6.1%, when compared to the previous month’s October 2020. On [Y-o-Y] basis, PPI of November 2020 showed a decrease of 24.6% when compared to the PPI of November,2019.
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