Qatar's hydrocarbon and manufacturing sectors faced significant price pressure this August on an annual basis, as the country's producers' price index (PPI) soared 84.6% year-on-year, according to the official estimates.
Qatar's PPI, which captures price pressure felt by producers of goods and services, however eased by a marginal 0.7% year-on-year decline, said the figures released by the Planning and Statistics Authority (PSA).
The PSA had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights. The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.
Market sources are of the view that the hardening of the global crude oil and industrial input prices had its reflections (in the PPI).
The mining PPI, which carries the maximum weight of 72.7%, reported a robust 100% increase year-on-year in August 2021 as the selling price of crude petroleum and natural gas was seen soaring a high 100.6%; even as that of stone, sand and clay declined 6.8%.
The mining PPI registered a 0.4% fall on a monthly basis in August this year on the back of a 0.4% decline in the selling price of crude petroleum and natural gas and 2.6% in stone, sand and clay.
The manufacturing sector PPI, which has a weight of 26.8% in the basket, witnessed a 61.2% growth year-on-year in August 2021 on a 89.7% surge in the price of basic chemicals, 62.3% in refined petroleum products, 50% in basic metals, 13% in paper and paper products, 9.3% in rubber and plastics products, 3.6% in other chemical products and fibres, 3.2% in juices, 0.9% in dairy products and 0.1% in beverages; even as there was 4% decline in the price of cement and other non-metallic mineral products and 0.9% in grain mill and other products.
The manufacturing sector PPI had seen a monthly 0.9% contraction in August 2021 as the average selling price of refined petroleum products decreased by 1.4% and paper and paper products by 1.1%.
Nevertheless, there was 1.9% rise in the average selling price of rubber and plastics products, 0.4% each in basic metals and beverages, 0.3% in dairy products and 0.2% in cement and other non-metallic mineral products.
The utilities group, which has a mere 0.5% weightage in the PPI basket, saw its index soar 8.4% year-on-year because there was a 10.9% increase in the average selling price of water and 5.9% in electricity in August 2021.
The index had seen a marginal 0.1% fall month-on-month this August with the average selling price of electricity declining 1.4%; whereas that of water rose 1.3%.
Qatar's PPI, which captures price pressure felt by producers of goods and services, however eased by a marginal 0.7% year-on-year decline, said the figures released by the Planning and Statistics Authority (PSA).
The PSA had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights. The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.
Market sources are of the view that the hardening of the global crude oil and industrial input prices had its reflections (in the PPI).
The mining PPI, which carries the maximum weight of 72.7%, reported a robust 100% increase year-on-year in August 2021 as the selling price of crude petroleum and natural gas was seen soaring a high 100.6%; even as that of stone, sand and clay declined 6.8%.
The mining PPI registered a 0.4% fall on a monthly basis in August this year on the back of a 0.4% decline in the selling price of crude petroleum and natural gas and 2.6% in stone, sand and clay.
The manufacturing sector PPI, which has a weight of 26.8% in the basket, witnessed a 61.2% growth year-on-year in August 2021 on a 89.7% surge in the price of basic chemicals, 62.3% in refined petroleum products, 50% in basic metals, 13% in paper and paper products, 9.3% in rubber and plastics products, 3.6% in other chemical products and fibres, 3.2% in juices, 0.9% in dairy products and 0.1% in beverages; even as there was 4% decline in the price of cement and other non-metallic mineral products and 0.9% in grain mill and other products.
The manufacturing sector PPI had seen a monthly 0.9% contraction in August 2021 as the average selling price of refined petroleum products decreased by 1.4% and paper and paper products by 1.1%.
Nevertheless, there was 1.9% rise in the average selling price of rubber and plastics products, 0.4% each in basic metals and beverages, 0.3% in dairy products and 0.2% in cement and other non-metallic mineral products.
The utilities group, which has a mere 0.5% weightage in the PPI basket, saw its index soar 8.4% year-on-year because there was a 10.9% increase in the average selling price of water and 5.9% in electricity in August 2021.
The index had seen a marginal 0.1% fall month-on-month this August with the average selling price of electricity declining 1.4%; whereas that of water rose 1.3%.