- General PPI of May 2023 decreased by 5.89% when compared with previous month (M-O-M).
- General PPI of May 2023 decreased by 29.83% when compared with May 2022 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production decreased by 6.20%, compared with April 2023.
Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for May 2023, which 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: 1.16%), and “Water” (weight: 0.53%).
The PPI for May 2023 is estimated at 112.51 points showing a decrease of 5.89%, when compared to the previous month’s April 2023. On [Y-o-Y] basis, PPI of May 2023 showed a decrease of 29.83%, when compared to the PPI of May 2022.
Mining and Quarrying:
The PPI of May 2023 for this sector showed a decrease by 6.19% when compared with PPI of April 2023, primarily due to the price decrease on “Crude petroleum and natural gas” by 6.20%, while no change noticed in “Other mining and quarrying”. PPI of Mining of May 2023, when compared with its counterpart in previous year (May 2022), there was a decrease of 30.24%, due to the price decrease on “Crude petroleum and natural gas” by 30.28%, followed “Other mining and quarrying” by 0.49%.
Manufacturing:
A decrease of 4.34% has been recorded in May 2023, when compared with the previous month’s Manufacturing index (April 2023). The prices decrease is seen in: “Chemicals and chemical products” by 6.49%, followed “Refined petroleum products” by 4.78%, “Beverages” by 0.45%, “Cement & other non-metallic mineral products” by 0.18% and “Food products” by 0.11%. The increasing prices are noticed in “Rubber and plastics products” by 4.85% and “Basic metals” by 0.45%. No change noticed in “Printing and reproduction of recorded media” in May 2023.
Comparing with the index of counterpart in the previous year (May 2022), “Manufacturing” PPI of May 2023 showed a decrease of 30.55%. The major groups which explain this price decrease are: “chemicals and chemical products” by 37.95%, followed by “Refined Petroleum products” by 31.34%, “Basic metals” by 17.88% and “Cement & other non-metallic mineral products” by 0.03%. However, the increasing prices are noticed in: “Rubber and Plastics products” by 5.92%, followed by “Food products” by 4.35%, “Beverages” by 1.01% and “Printing and reproduction of recorded media” by 0.57%.
Electricity, gas, steam, and air conditioning supply:
The PPI of this group showed a decrease of 9.47% compared to April 2023. When compared the PPI of May 2023, to the PPI of May 2022 [Y-o-Y], showed an increase of 12.00%.
Water supply:
The PPI of this group showed an increase of 5.52% compared to April 2023. When compared the PPI of May 2023, to the PPI of May 2022 [Y-o-Y], showed an increase of 17.04%.
