- General PPI of March 2024 decreased by 1.10% when compared with previous month (M-O-M).
- General PPI of March 2024 decreased by 7.23% when compared with March 2023 (Y-O-Y).
- PPI of Crude Petroleum and Natural gas production decreased by 1.28%, compared with February 2024.
Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for March 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 March 2024 is estimated at 113.13 points showing a decrease of 1.10%, when compared to the previous month’s February 2024. On [Y-o-Y] basis, PPI of March 2024 showed a decrease of 7.23%, when compared to the PPI of March 2023.
Mining and Quarrying:
The PPI of March 2024 for this sector showed a decrease of 1.27% when compared with PPI of February 2024, primarily due to the price decrease in “Crude petroleum and natural gas” by 1.28%, and no significant change in “Other mining and quarrying”. PPI of Mining of March 2024, when compared with its counterpart in previous year (March 2023), there was a decrease of 7.62%, due to the price decrease in “Crude petroleum and natural gas” by 7.65%, and “Other mining and quarrying” by 0.02%.
Manufacturing:
An increase of 0.06% has been recorded in March 2024, when compared with the previous month’s Manufacturing index (February 2024). This is the results of rising pieces in four groups and falling prices in four others. The prices increase is seen in: “Chemicals and chemical products” by 1.77%, followed by “Printing and reproduction of recorded media” by 0.68%, “Food products” by 0.22% and “Beverages” by 0.06%. The decreasing prices are noticed in “Refined petroleum products” by 3.71%, “Cement & other non-metallic mineral products” by 2.44%, “Rubber and plastics products” by 1.54% and “Basic metals” by 0.22%.
Compared with the index of counterpart in the previous year (March 2023), “Manufacturing” PPI of March 2024 showed a decrease of 6.35%. The major groups which explain this price decrease are: “chemicals and chemical products” by 7.99%, followed by “Basic metals” by 6.49%, “Cement & other non-metallic mineral products” by 5.69%, “Refined Petroleum products” by 3.33% and “Rubber and Plastics products” by 2.92% and “Printing and reproduction of recorded media” by 0.16%. However, the increasing prices are noticed in “Food products” by 4.38% followed by “Beverages” by 0.12%.
Electricity, gas, steam, and air conditioning supply:
The PPI of this group showed a decrease of 3.68% compared to February 2024. Compared to the PPI of March 2023 [Y-o-Y], the PPI of March 2024, showed an increase of 4.79%.
Water supply:
The PPI of this group showed a decrease of 0.22% compared to February 2024. Compared to the PPI of March 2023 [Y-o-Y], the PPI of March 2024, showed an increase of 5.37%.
