Qatar's PPI rises 55.66% y-o-y in June

The PPI in the State of Qatar for June 2022 increased 55.66% year-on-year (y-o-y) but was down 1.14% sequentially, official data showed Friday.The Planning and Statistics Authority released Saturday its monthly Producer Price Index (PPI) of the Industrial sector for June 2022.The four main components of the index are Mining (weight: 82.46%), Manufacturing (weight: 15.85%), Electricity (weight: 1.15%), and Water (weight: 0.52%). For Mining, the June PPI showed a decrease by 1.39% when compared with PPI of May, primarily due to the price decrease on "Crude petroleum and natural gas" by 1.38%, while"Other mining and quarrying" increase by 0.77%. On an annual basis, it rose 61.13%. Manufacturing saw a sequential decline of 0.14% in June 2022.The price decrease is seen in: "Refined petroleum products" by 2.00%, followed by "Beverages" by 0.76%, and "Chemicals and chemical products" by 0.24%. The increasing prices were noticed in "Basic metals" by 2.88%, followed by "Rubber and plastics products" by 2.06%, "Printing and reproduction of recorded media" 1.43%, "Food products" by 0.41%, and "Cement & other non-metallic mineral products" by 0.22%. On annual basis, the PPI increased by 35.60%. The major groups which explain this price increase were: "Refined Petroleum products" by 46.17%, followed by "Rubber and Plastics products" by 39.78%, "chemicals and chemical products" by 38.18%, "Basic metals" by 35.86%, "Cement & other nonmetallic mineral products" by 9.98%, and "Food products" by 1.86%, offset by declines in "Printing and reproduction of recorded media" by 3.08%, and "Beverages" by 2.04%. Electricity, gas, steam and air conditioning supply showed an increase of 7.54% compared to May 2022.When compared the PPI of June 2022, it showed an increase of 10.38%. For Water, PPI declined 1.27% sequentially, and increased 8.52% year-over-year.