- General PPI of December 2020 increased by 8.1% when compared with previous month (M-O-M).
- General PPI of December 2020, decreased by 20.9% when compared with December,2019 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production increased by 9.4%, comparing with previous month.
Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for December 2020 with the base year 2013. Producer price index covers goods relating to “Mining” (weight: 72.7%), “Manufacturing” (weight: 26.8%), and “Electricity & Water” (weight: 0.5%).
Mining
The PPI of December, 2020 for this sector showed an increase by 9.4 % when compared with PPI of November 2020, primarily due to the price increase of “Crude petroleum and natural gas” by 9.4%, and “Stone, Sand and Clay” increased by 0.8%. PPI of December 2020, when compared with its counterpart in previous year (December 2019), there was a decrease of 25.2%.
Manufacturing
An increase of 5.6% has been recorded in December 2020, when compared with the previous month’s Manufacturing index (November 2020). The prices increase are seen in: “Basic Chemicals” by 9.5%, followed by “Refined Petroleum products” by 6.3%, “Paper and Paper products” by 2.3%, “Rubber and Plastics products” by 1.4%, “Juices” by 0.7%, “Grain mill and Other products” by 0.5%, and “Dairy products” by 0.3%. However, the decreasing prices are noticed in “Basic Metals” by 1.6%, and “Beverages” by 0.9%. while no change are noticed in “Cement and Other non-metallic products”, and “Other chemical products and fibers”.
Comparing with the index of counterpart in the previous year (December 2019), “Manufacturing” PPI of December 2020 showed a decrease of 11.8%. The major groups which explain this price fall are: “Refined Petroleum products” by 16.2%, followed by “Basic chemicals” by 11.7%, “Other chemical products and fibers” by 6.9%, Cement and Other non-metallic products” by 5.8%, "Rubber and Plastics products” by 3.1%, and “Grain mill and Other products” by 0.3%. However, prices increased in “Basic Metals” by 12.9%, “Paper and Paper Products” by 6.4 %, "Juices" by 5.6%, and “Dairy products” by 0.1%. however no change noticed in “Beverages”.
Electricity and Water
The PPI of this group showed an increase of 16.6% compared to November 2020, resulting from price increase in “Electricity” by 30.4%, and “Water” by 1.5%. When compared the PPI of December, 2020, to the PPI of December, 2019 [Y-o-Y], also showed an increase of 8.3%, affected by prices rise in “Water” by 8.5%, and “Electricity” by 8.2%.
Overall Index (PPI of Industrial sector)
The PPI for December,2020 is estimated at 50.7 points showing an increase of 8.1%, when compared to the previous month’s November 2020. On [Y-o-Y] basis, PPI of December 2020 showed a decrease of 20.9% when compared to the PPI of December,2019.
