Qatar's Producer Price Index Rises in August

Doha, September 30 (QNA) - Qatar's General Monthly Producer Price Index (PPI) is estimated at 73.2 points in August 2018, an increase by 4.1% when compared with previous month (M-O-M), On (Y-o-Y) basis, PPI of August 2018 showed a rise of 40.2% when compared to the PPI of August 2017. The PPI covers goods relating to three main sectors: Mining (weight: 72.7%), Manufacturing (weight: 26.8%), and Electricity and Water (weight: 0.5%). With regard to the Mining Sector, the data of the Ministry of Development Planning and Statistics (MDPS) for August revealed that the PPI for this sector showed an increase by 4.9%, when compared with PPI of July 2018, primarily due to the increase of crude petroleum and natural gas prices. When compared with its counterpart in previous year (August 2017), there has been a considerable increase of 48.0%. Meanwhile, the Manufacturing Sector registered an increase of 2.2% in August when compared with the previous months Manufacturing index (July 2018). The prices increases are seen in: juices" by 3.3%, refined petroleum products by 3.2%, basic chemicals by 1.3%, and dairy products by 1.1%. However, the decreasing prices are noticed in rubber and plastics products by 2.8%, basic metals by 1.3%, grain mill and other products by 1.0%, beverages by 0.6%, and cement and other non-metallic products by 0.5%. No change noticed in paper and paper products and other chemical products and fibers. Comparing with the index of counterpart in the previous year (August 2017), Manufacturing PPI of August 2018 showed a rise of 25.9%. The major groups which explain this price increase are refined petroleum products by 34.7%, followed by basic metals by 15.7%, basic chemicals by 14.6%, paper and paper products by 12.3%, dairy products by 11.9%, other chemical products and fibers by 5.5%, juices by 3.5%, and rubber and plastics products by 1.2%, and grain mill and other products by 0.2%. However, prices fall also noticed in cement and other non-metallic products by 3.8% and beverages by 1.7%. The PPI of Electricity and Water showed a decrease of 2.5% compared to July 2018, resulting from a decreasing price in water by 3.6%, and electricity by 1.4%. When compared the PPI of August 2018 to the PPI of August 2017 Y-o-Y, the PPI showed an increase of 1.9%, affected by prices rise in electricity by 5.1%, and a decrease in water by 1.3%. (QNA)