The PPI for December 2022 is estimated at 136.00 points showing a decrease of 5.27 percent, when compared to November 2022, and an increase of 1.45 percent, when compared to the PPI of December 2021.
The Planning and Statistics Authority (PSA) has released the new Monthly Producer Price Index (PPI) of the Industrial sector for December 2022, which is calculated based on 2018 where the details of relative importance and prices for the base year of 2018 are used, therefore the relatives of the main four industry sectors become as follow: "Mining" (weight: 82.46 percent), "Manufacturing" (weight: 15.85 percent), "Electricity" (weight: 1.15 percent), and "Water" (weight: 0.52 percent).
In the Mining and Quarrying sector, the PPI of December 2022 showed a decrease of 5.68 percent when compared with the PPI of November 2022, primarily due to the 5.69 percent price decrease of crude petroleum and natural gas, while no change in "Other mining and quarrying". When compared with its counterpart in the previous year (December 2021) PPI of Mining of December 2022 showed an increase of 4.05 percent.
In the manufacturing sector, a decrease of 3.63 percent has been recorded in December 2022, when compared with the previous month's Manufacturing index (November 2022). The prices decrease is seen in: "Refined petroleum products" by 9.01 percent, followed by "Chemicals and chemical products" by 3.51 percent, "Basic metals" by 0.30 percent, and "Beverages" by 0.02. The increasing prices are noticed in "Food products" by 3.12 percent. No change was noticed in "Printing and reproduction of recorded media", "Rubber and plastics products", and "Cement & other non-metallic mineral products".
Compared with the index of its counterpart in the previous year (December 2021), the manufacturing PPI of December 2022 showed a decrease of 11.13 percent. The major groups which explain this price decrease are: "Chemicals and chemical products" at 17.85 percent, followed by "Basic metals" at 5.37 percent, "Printing and reproduction of recorded media" at 3.49 percent, and "Beverages" at 0.86 percent. However, the increasing prices are noticed in "Rubber and Plastics products" at 22.29 percent, followed by "Food products" at 7.20 percent, "Cement & other non-metallic mineral products" at 5.05 percent, and "Refined Petroleum products" at 0.28 percent.
The PPI of the electricity, gas, steam, and air conditioning supply group showed an increase of 6.69 percent compared to November 2022 and a decrease of 5.63 percent when compared to the PPI of December 2021.
The PPI of the water supply group showed a decrease of 0.14 percent compared to November 2022 and a decrease of 10.80 percent when compared to the PPI of December 2021.