- General PPI of July 2024 increased by 0.60% when compared with previous month (M-O-M).
- General PPI of July 2024 increased by 7.19% when compared with July 2023 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 0.60%, compared with June 2024.
The National Planning Council has released the new Monthly Producer Price Index (PPI) of the Industrial sector for July 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 July 2024 is estimated at 116.43 points showing an increase of 0.60%, when compared to the previous month June 2024. On [Y-o-Y] basis, PPI of July 2024 showed an increase of 7.19%, when compared to the PPI of July 2023.
Mining and Quarrying:
The PPI of July 2024 for this sector showed an increase of 0.60% when compared with PPI of June 2024, primarily due to the price increase in “Crude petroleum and natural gas” by 0.60%, and an increase prices in “Other mining and quarrying” by 0.06%. PPI of Mining and Quarrying of July 2024, when compared with its counterpart in previous year (July 2023), there was an increase of 7.55%, due to the price increase in “Crude petroleum and natural gas” by 7.57%, while price increase in “Other mining and quarrying” by 0.04%.
Manufacturing:
An increase of 0.78% has been recorded in July 2024, when compared with the previous month Manufacturing index (June 2024). This is the result of raising prices in five groups and decline prices in three others. The prices increase is seen in: “Refined petroleum products” by 2.08%, “Cement & other non-metallic mineral products” by 1.95%, “Rubber and plastics products” by 0.52%, followed by “Basic metals” by 0.51%, “Chemicals and chemical products” by 0.36%. The decreasing prices are noticed in “Food products” by 1.98%, followed by “Beverages” by 0.33%, and “Printing and reproduction of recorded media” by 0.16%.
Compared with the index of counterpart in the previous year (July 2023), “Manufacturing” PPI of July 2024 showed an increase of 5.22%.The major groups which explain this price increases are :“Rubber and Plastics products” by 19.97% followed by “Refined Petroleum products” by 7.30%, “chemicals and chemical products” by 5.97%, “Cement & other non-metallic mineral products” by 5.15%,“Beverages” by 2.37%,“Food products” by 2.17%.However, the decreasing prices are noticed in “Basic metals” by 1.51% and “Printing and reproduction of recorded media” by 0.49%.
Electricity, gas, steam, and air conditioning supply:
The PPI of this group showed a fall of 2.45% compared to June 2024. Compared to the PPI of July 2023 [Y-o-Y], the PPI of July 2024, showed a decrease of 0.04%. Graph (5) shows the index of “Electricity, gas, steam and air conditioning supply” from July 2023 to July 2024.
Water supply:
The PPI of this group showed a rise of 3.0% compared to June 2024. Compared to the PPI of July 2023 [Y-o-Y], the PPI of July 2024, showed an increase of 10.12%.
