July PPI Grows 7.19% YoY

The PPI for July 2024 came in at 116.43 points showing an increase of 0.60 percent and 7.19 percent on a monthly and yearly basis respectively, data from the National Planning Council showed today. The four main sectors that make up the index are Mining (weight: 82.46 percent), Manufacturing (weight: 15.85 percent), Electricity (weight: 1.16 percent), and Water (weight: 0.53 percent). The mining sector's PPI increased 0.60 percent when compared with PPI of June 2024, primarily due to the price increase in Crude petroleum and natural gas by 0.60 percent, and an increase prices in Other mining and quarrying by 0.06 percent. PPI of the sector of July 2024, when compared with its counterpart in previous year (July 2023), there was an increase of 7.55 percent, due to the price increase in Crude petroleum and natural gas by 7.57 percent, while price increase in "Other mining and quarrying" by 0.04 percent. The manufacturing sector saw an increase of 0.78 percent has been recorded in July 2024, when compared with the previous month Manufacturing index (June 2024). This is the result of raising prices in five groups and decline prices in three others. The price increase was seen in: "Refined petroleum products" by 2.08 percent, "Cement and other non-metallic mineral products" by 1.95 percent, "Rubber and plastics products" by 0.52 percent, followed by "Basic metals" by 0.51 percent, "Chemicals and chemical products" by 0.36 percent. The decreasing prices are noticed in "Food products" by 1.98 percent, followed by "Beverages" by 0.33 percent, and "Printing and reproduction of recorded media" by 0.16 percent. On an annual basis, Manufacturing PPI of July 2024 showed an increase of 5.22 percent. The major groups which explain this price increases were :"Rubber and Plastics products" by 19.97 percent followed by "Refined Petroleum products" by 7.30 percent, "chemicals and chemical products" by 5.97 percent, "Cement and other non-metallic mineral products" by 5.15 percent, "Beverages" by 2.37 percent, "Food products" b y 2.17 percent. However, the decreasing prices were noticed in "Basic metals" by 1.51 percent and "Printing and reproduction of recorded media" by 0.49 percent. As for the electricity sector, the PPI of this group showed a fall of 2.45 percent compared to June 2024 . Compared to the PPI of July 2023 YoY, the PPI of July 2024, showed a decrease of 0.04 percent. Meanwhile the water supply sector group showed a rise of 3.0 percent compared to June 2024. Compared to the PPI of July 2023 YoY, the PPI of July 2024, showed an increase of 10.12 percen Source: Qatar News Agency