Qatar PPI contracts in February: PSA
Qatar’s PPI fell 3.42% on a monthly basis in February.
The PSA had published a new PPI series at the end of 2015. With a base of 2013, it relies 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 produced in the domestic market was much narrower.
The mining PPI, which weighs a maximum of 82.46%, recorded a contraction of 5.47% year-on-year in February 2023, as the average selling price of crude oil and natural gas fell by 5.47% and that of other mines and quarries 2.42%. .
The mining PPI fell 3.6% month-on-month in February, with the average selling price of crude oil and natural gas down 3.6%, even as that of stone, sand and clay increased by 0.02%.
The manufacturing PPI, which weighs 15.85% in the basket, fell 17.15% on an annual basis in February 2023 due to a 25.19% drop in the average price of chemicals and related products, 11.93% base metals and 1.07% refined petroleum products.
Nevertheless, there was an increase of 13.2% in the printing and reproduction of recorded media, 6.1% in food products, 2.2% in rubber and plastic products, 1.31% in beverages and 0.74% in cement and other non-metallic mineral products.
The manufacturing PPI plunged 3.23% month on month in February due to a 5.35% drop in the average price of base metals, 5.28% of refined petroleum products, 3% of chemicals and related products and 2.25% in rubber and plastic products.
However, there was a marginal increase of 0.45% in the average price of cement and other non-metallic mineral products, 0.34% of beverages and 0.14% of food products.
The electricity, gas, steam and air conditioning supply index registered an increase of 5.15% and 3.71% on an annual and monthly basis respectively in February.
The water supply index increased by 6.84% and 7.27% year-on-year and month-on-month respectively in February 2023.
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Qatar PPI contracts in February: PSA
