Industrial Producers Price Index Declines by 1.33% in Early 2024

Amman: The Industrial Producers Price Index saw a decrease of 1.33 percent in the first third of 2024, reaching 107.26 points compared to 108.71 points during the same period in the previous year. The base year for this calculation was revised to 2018, changing from the previously used 2010. According to the monthly report released on Thursday by the Department of Statistics, this decrease was primarily driven by a 1.66 percent drop in manufacturing industry prices and a 2.27 percent decline in extractive industry prices, despite a 4.48 percent increase in electricity prices. The report highlighted that in April 2024, the overall industrial producer price index decreased by 0.66 percent to 107.42 points from 108.12 points in April 2023. The decline in April's index compared to the same month last year was attributed to a 0.88 percent reduction in manufacturing industry prices and a 2.09 percent decrease in extractive industry prices, while electricity prices rose by 3.96 percent. On a monthly level, the in dustrial producer price index for April 2024 fell by 0.19 percent to 107.42 points from 107.62 points in March 2024. This monthly change was due to a 0.14 percent decline in manufacturing prices, a 1.13 percent decrease in extractive industry prices, and a 0.16 percent drop in electricity prices. Source: Jordan News Agency