Qatar's PPI Falls 11.8% YoY in June

Doha, July 31 (QNA) - Producer Price Index (PPI) of the Industrial sector for June 2019 decreased 2.4 percent on a monthly basis and 11.8 percent on an annual basis. The Producer price index covers goods relating to mining, manufacturing, and electricity & water with weights of 72.7 percent, 26.8 percent, 0.5 percent respectively. The mining PPI of June 2019 for this sector showed a decrease by 2.9 percent when compared with PPI of May 2019, primarily due to the decrease of "Crude petroleum and natural gas" prices by 2.9 percent. PPI of June 2019, when compared with its counterpart in previous year (June 2018), there has been a decrease of 13.2 percent. Manufacturing saw a decrease of 0.9 percent has been recorded in June 2019, when compared with the previous months Manufacturing index (May of 2019). The prices decrease are seen in: "Basic Chemicals" by 3.4 percent, "Cement and Other non-metallic products" by 0.9 percent, "Refined Petroleum products" by 0.8 percent, "Beverages", and "Other chemical products and fibers" by 0.5 percent for each, "Grain mill and Other products" by 0.1 percent. However, the increasing prices are noticed in: "Rubber and Plastics products" by 1.6 percent, "Basic Metals" by 1.1 percent, "Paper and Paper products " by 1.0 percent. No changes are noticed in "Juices" and "Dairy products". Comparing with the index of counterpart in the previous year (June 2018), "Manufacturing" PPI of June 2019 showed a decrease of 8.7 percent. The major groups which explain this price fall are: "Basic Chemicals" by 9.8 percent, "Refined Petroleum products" by 9.3 percent, "Basic Metals" by 7.5 percent, and "Cement and Other non-metallic products" by 5.4 percent. However, prices increased in "Rubber and Plastics products" by 5.3 percent, followed by "Other chemical products and fibers" by 4.8 percent, "Juices" by 3.3 percent, "Dairy products" by 3.1 percent, "Paper and Paper Products" by 2.6 percent, and "Beverages" by 2.3 percent, "Grain mill and Other products" by 0.1 percent. For electricity and water, the PPI of this group showed a decrease of 4.6 percent compared to May 2019, resulting from the decreasing price in "Electricity" by 6.3 percent, and "Water" by 2.5 percent. When compared the PPI of June of 2019, to the PPI of June of 2018, showed a decrease of 1.4 percent, affected by prices fall in "Water" by 7.2 percent, and a rise in "Electricity" by 3.9 percent. (QNA)