Qatar’s producer price index falls 5.27% month-on-month in December 2022: PSA
The PPI measures inflation from the perspective of costs to industry or producers of products, as it measures price changes before they reach consumers.
The PSA had published a new PPI series at the end of 2015. With a base of 2013, it is based on an updated sampling frame and new weights. The previous sampling frame dates back to 2006, when the Qatari economy was much smaller than today and the range of products produced in the domestic market was much narrower.
However, Qatar’s PPI increased by 1.45% year-on-year in December 2022. The tightening of global crude oil and industrial input prices, due to rising inflation and interest rates, was reflected in the PPI on an annualized basis. However, the annual increase in the PPI has started to slow down.
The mining PPI, which weighs a maximum of 82.46%, recorded a contraction of 5.68% month-on-month in December 2022, as the average selling price of crude oil and natural gas fell by 5 .69%.
However, the mining PPI climbed 4.05% year-on-year in December 2022, with the average sale price of crude oil and natural gas remaining high at 4.04% and that of stone, sand and 7.51% clay.
The PPI for the manufacturing sector, which weighs 15.85% in the basket, contracted by 3.63% month on month in December 2022 due to a 9.01% plunge in the average selling price of products. refined petroleum products, 3.51% in chemicals and chemical products and 0.3% in base metals.
Nevertheless, there was a 3.12% increase in the average sale price of food products.
The manufacturing PPI fell 11.13% year on year in December 2022 due to a 17.85% drop in the average price of chemicals and chemicals, 5.37% in base metals, 3.49% in printing and reproduction of recorded media and 0.86% in beverages.
However, the rubber and plastics sector saw an increase of 22.29% in the average selling price, food products (7.2%), cement and other non-metallic mineral products (5.37%) and refined petroleum products (0.28%).
The electricity, gas, steam and air-conditioning index rose 6.69% month-on-month, but fell 5.63% year-on-year. another in December 2022.
The water supply index decreased by 0.14% and 10.8% month-on-month and year-on-year respectively in December 2022.
Qatar’s producer price index falls 5.27% month-on-month in December 2022: PSA
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