Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for October 2022, 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: 1.15%), and “Water” (weight: 0.52%).
The PPI for October ,2022 is estimated at 154.49 points showing a decrease of 5.80%, when compared to the previous month’s September 2022. On [Y-o-Y] basis, PPI of October 2022 showed an increase of 19.85%, when compared to the PPI of October ,2021.
Mining and Quarrying:
The PPI of October 2022 for this sector showed a decrease by 6.59% when compared with PPI of September 2022, primarily due to the price decrease on “Crude petroleum and natural gas” by 6.59%, while no change in “Other mining and quarrying”. PPI of Mining of October 2022, when compared with its counterpart in previous year (October 2021), there was an increase of 23.86%.
Manufacturing:
A decrease of 0.84% has been recorded in October 2022, when compared with the previous month’s Manufacturing index (September 2022). The prices decrease is seen in: “Refined petroleum products” by 3.73%, followed by “Basic metals” by 1.86%, and “Rubber and plastics products” by 0.71%. The increasing prices are noticed in “Food products” by 0.10%, followed by “Chemicals and chemical products” by 0.05%, “Beverages”, “Cement & other non-metallic mineral products” by 0.01% each, no change noticed in “Printing and reproduction of recorded media” in October 2022.
Comparing with the index of counterpart in the previous year (October 2021), “Manufacturing” PPI of October 2022 showed a decrease of 0.42%. The major groups which explain this price decrease are: “chemicals and chemical products” by 6.31%, followed by in “Printing and reproduction of recorded media” by 3.49%. However, the decreasing prices are noticed “Rubber and Plastics products” by 23.21%, followed by “Refined Petroleum products” by 13.11%, “Basic metals” by 7.45%, “Cement & other non-metallic mineral products” by 5.22%, and “Food products” by 3.22%, and “Beverages” by 1.06%.
Electricity, gas, steam and air conditioning supply:
The PPI of this group showed an increase of 3.73% compared to September 2022. When compared the PPI of October 2022, to the PPI of October 2021 [Y-o-Y], showed an increase of 6.90%.
Water supply:
The PPI of this group showed a decrease of 1.42% compared to September 2022. When compared the PPI of October 2022, to the PPI of October 2021 [Y-o-Y], showed a decrease of 4.06%.
