Doha, Qatar — Qatar’s General Producer Price Index (PPI) for January 2024 is estimated at 113.22 points showing a decrease of 4.38 percent compared to December 2023.
On Y-o-Y basis, PPI of January 2024 showed a decrease of 12.63 percent, according to the Planning and Statistics Authority (PSA).
The monthly PPI of the Industrial sector is calculated based on 2018 where the details of relative importance and prices for the base year of 2018 are used. According to this criterion, the weight of the four industry sectors is taken as mining (82.46 percent), manufacturing (15.85 percent), electricity (1.16 percent) and water (0.53 percent).
The PPI of January 2024 for Mining and Quarrying sector showed a decrease of 5.22 percent when compared with PPI of December 2023, primarily due to the price decrease in “Crude petroleum and natural gas” by 5.24 percent, and no change in “Other mining and quarrying”.
PPI of Mining of January 2024, when compared with its counterpart in previous year (January 2023), there was a decrease of 13.23 percent, due to the price decrease on “Crude petroleum and natural gas” by 13.25 percent, while “Other mining and quarrying” has no significant change.
A decrease of 0.18 percent has been recorded in January 2024 for Manufacturing sector, when compared with the previous months Manufacturing index (December 2023).
The prices decrease is seen in: “Rubber and plastics products” by 12.54 percent, followed by “Refined petroleum products” by 3.13 percent, “Beverages” by 2.54 percent, “Food products” by 0.25 percent and “Chemicals and chemical products” by 0.12 percent.
The increasing prices are noticed in “Basic metals” by 5.47 percent followed by “Cement & other non-metallic mineral products” by 3.96 percent. There is no significant change in “Printing and reproduction of recorded media”.
Compared with the index of counterpart in the previous year (January 2023), “Manufacturing” PPI of January 2024 showed a decrease of 11.84 percent.
The major groups which explain this price decrease are: “chemicals and chemical products” by 13.91 percent, followed by “Basic metals” by 12.73 percent, “Refined Petroleum products” by 10.38 percent, “Rubber and Plastics products” by 9.26 percent, “Cement & other non-metallic mineral products” by 5.55 percent, and “Printing and reproduction of recorded media” by 0.16 percent.
However, the increasing prices are noticed in “Food products” by 3.20 percent followed by “Beverages” by 0.27 percent.
The PPI of electricity, gas, steam, and air conditioning supply group showed an increase of 3.49 percent compared to December 2023. Compared to the PPI of January 2023 Y-o-Y, the PPI of January 2024, showed an increase of 13.45 percent.
The PPI of Water supply showed an increase of 0.29 percent compared to December 2023. Compared to the PPI of January 2023 Y-o-Y, the PPI of January 2024, showed an increase of 12.94 percent. (QNA)