Industrial Producers’ Price Index Drops by 1.04% in May

Amman: The General Industrial Producers' Price Index in Jordan experienced a decrease of 1.04 percent by the end of May, reaching 107.39 points compared to 108.52 points during the same period last year. The base year was updated to 2018 from 2010. According to a monthly report issued by the Department of Statistics on Sunday, this decline over the first five months of the year, compared to the same period last year, was driven by a 1.26 percent decrease in manufacturing industry prices and a 3.27 percent decrease in extractive industry prices. Conversely, electricity prices saw a 4.42 percent increase. The report also highlighted that the industrial producers' price index rose by 0.14 percent in May, reaching 107.92 points compared to 107.76 points in May 2023. The increase was attributed to a 0.34 percent rise in manufacturing industry prices and a 4.19 percent rise in electricity prices, while extractive industry prices fell by 7.24 percent. On a month-to-month basis, the industrial producers' price ind ex decreased by 0.48 percent in May, recording 107.92 points compared to 107.41 points in the previous month. This change was influenced by a 0.75 percent increase in manufacturing industry prices, a 3.12 percent decrease in extractive industry prices, and a 0.21 percent decrease in electricity prices. Source: Jordan News Agency