- General PPI of July 2023 decreased by 0.22% when compared with previous month (M-O-M).
- General PPI of July 2023 decreased by 33.09% when compared with July 2022 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production decreased by 0.28%, compared with June 2023.
Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for July 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 July 2023 is estimated at 108.62 points showing a decrease of 0.22%, when compared to the previous month’s June 2023. On [Y-o-Y] basis, PPI of July 2023 showed a decrease of 33.09%, when compared to the PPI of July 2022.
Mining and Quarrying:
The PPI of July 2023 for this sector showed a decrease by 0.28% when compared with PPI of June 2023, primarily due to the price decrease on “Crude petroleum and natural gas” by 0.28%, while no change noticed in “Other mining and quarrying”. PPI of Mining of July 2023, when compared with its counterpart in previous year (July 2022), there was a decrease of 34.40%, due to the price decrease on “Crude petroleum and natural gas” by 34.44%, followed “Other mining and quarrying” by 1.54%.
Manufacturing:
An increase of 0.30% has been recorded in July 2023, when compared with the previous month’s Manufacturing index (June 2023). The prices increase is seen in: “Refined petroleum products” by 6.69%. The decreasing prices are noticed in “Chemicals and chemical products” by 1.31%, followed by “Food products” by 0.76%, “Rubber and plastics products” by 0.54%, “Beverages” by 0.30%, “Basic metals” by 0.18%, and “Cement & other non-metallic mineral products” by 0.17%. No change noticed in “Printing and reproduction of recorded media” in July 2023.
Comparing with the index of counterpart in the previous year (July 2022), “Manufacturing” PPI of July 2023 showed a decrease of 28.0%. The major groups which explain this price decrease are: “chemicals and chemical products” by 36.51%, followed by “Refined Petroleum products” by 22.59%, “Basic metals” by 17.84%, “Rubber and Plastics products” by 0.38%. However, the increasing prices are noticed in “Food products” by 3.42%, “Beverages” by 0.81%, and “Cement & other non-metallic mineral products” by 0.06%. No change noticed in “Printing and reproduction of recorded media”.
Electricity, gas, steam, and air conditioning supply:
The PPI of this group showed a decrease of 2.58% compared to June 2023. When compared the PPI of July 2023, to the PPI of July 2022 [Y-o-Y], showed a decrease of 0.68%.
Water supply:
The PPI of this group showed a decrease of 0.41% compared to June 2023. When compared the PPI of July 2023, to the PPI of July 2022 [Y-o-Y], showed an increase of 14.79%.
