Ramallah: A report by The Palestinian Central Bureau of Statistics (PCBS) has noted a sharp increase in the Producer Price Index (PPI) during 2024. The overall PPI in Palestine, with its base year set at 2019=100, reached 150.44 in 2024, indicating an increase of 35.42% compared to 2023.
According to Palestine News and Information Agency - WAFA, the rise in PPI was driven by significant price increases in major activities including Agriculture, forestry, and fishing activities, which surged by 99.14%. Manufacturing activities saw a rise of 7.52%, while Water supply, sewerage, waste management, and remediation activities increased by 3.80%. The Electricity, gas, steam, and air conditioning supply activities noted an increase of 2.77%. In contrast, Mining and quarrying activities experienced a decrease of 1.03% in 2024 compared to the previous year.
The report also highlighted that the prices of locally consumed products increased by 38.55%, whereas the prices of local exported products saw a rise of 5.69%.
A significant shift was observed in December 2024, where the overall Producer Price Index for Palestine reached 165.87, marking a decrease of 5.77% compared to November 2024. The PPI for locally consumed products dropped to 170.82, translating to a 5.87% decrease from the previous month. Meanwhile, the PPI for local exported products fell to 119.68, showing a decrease of 4.33% compared to November 2024.
These fluctuations in the December PPI were attributed to changes in prices across various major activities when compared to the previous month.
