- General PPI of June 2024 increased by 0.46% when compared with previous month (M-O-M)
- General PPI of June 2024 increased by 6.31% when compared with June 2023 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 0.68%, compared with May 2024.
The National Planning Council has released the new Monthly Producer Price Index (PPI) of the Industrial sector for June 2024, which calculated based on 2018. 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 June 2024 is estimated at 115.73 points showing an increase of 0.46%, when compared to the previous month’s May 2024. On [Y-o-Y] basis, PPI of June 2024 showed an increase of 6.31%, when compared to the PPI of June 2023.
Mining and Quarrying:
The PPI of June 2024 for this sector showed an increase of 0.67% when compared with PPI of May 2024, primarily due to the price increase in “Crude petroleum and natural gas” by 0.68%, and no change prices in “Other mining and quarrying”. PPI of Mining and Quarrying of June 2024, when compared with its counterpart in previous year (June 2023), there was an increase of 6.61%, due to the price increase in “Crude petroleum and natural gas” by 6.63%, while price decrease in “Other mining and quarrying” by 0.02%. Graph (2) showed the monthly movement of “Mining and Quarrying” index from June 2023 to June 2024, and Graph (3) showed the monthly rate of change in General PPI and Mining.
Manufacturing:
A decrease of 0.42% has been recorded in June 2024, when compared with the previous month’s Manufacturing index (May 2024). This is the result of falling prices in five groups and raise prices in three others. The prices decrease is seen in: “Cement & other non-metallic mineral products” by 3.81%, followed by “Basic metals” by 2.24%, “Food products” by 0.62%, “Chemicals and chemical products” by 0.55% and “Refined petroleum products” by 0.43%. The increasing prices are noticed in “Rubber and plastics products” by 19.49%, followed by “Beverages” by 0.90% and “Printing and reproduction of recorded media” by 0.16%.
Compared with the index of counterpart in the previous year (June 2023), “Manufacturing” PPI of June 2024 showed an increase of 5.02%. The major groups which explain this price increases are: “Rubber and Plastics products” by 18.70% followed by “Refined Petroleum products” by 12.14%, “chemicals and chemical products” by 4.21%, “Food products” by 3.45%, “Cement & other non-metallic mineral products” by 2.97% and “Beverages” by 2.40%. However, the decreasing prices are noticed in “Basic metals” by 2.19% and “Printing and reproduction of recorded media” by 0.33%.
Electricity, gas, steam, and air conditioning supply:
The PPI of this group showed a fall of 5.84% compared to May 2024. Compared to the PPI of June 2023 [Y-o-Y], the PPI of June 2024, showed a decrease of 0.18%. Graph (5) shows the index of “Electricity, gas, steam and air conditioning supply” from June 2023 to June 2024.
Water supply:
The PPI of this group showed a rise of 3.33% compared to May 2024. Compared to the PPI of June 2023 [Y-o-Y], the PPI of June 2024, showed an increase of 6.47%. Graph (6) shows the index of “Water supply” from June 2023 to June 2024.
