Qatar's Producer Price Index Falls 6% YoY

Doha, January 23 (QNA) - The Ministry of Development Planning and Statistics (MDPS) released today its Monthly Producer Price Index (PPI) of the Industrial sector for November 2016. General PPI of November 2016, increased by 0.4 % on a monthly basis and declined 5.3% on an annual one. The index covers goods related to mining, manufacturing, and electricity and water. They have a weight of 72.7%, 26.8%, and 0.5% respectively. The PPI of mining in November, 2016 shows a decrease of 1.1% on a monthly basis. The fall was attributed to the decline in the price of crude oil and natural gas. It's an even bigger fall, 6%, when compared to prices in the same period of 2015. In manufacturing, the PPI rose 3.5% compared to the previous month. The increase was seen in refined petroleum products by 5.1%, Basic Chemicals by 2.8%,Other Chemical products by 1.9%,Juices by 1.7%, Rubber and Plastics products by 1.2%,Cement and other Non-metallic products by 0.5%, and Beverages by 0.3%. However, the decreasing prices were noticed in Dairy Products by 1.8%, Basic Metals by 1.6%,and Grain mill and Other products by 0.1%. No change noticed in Paper and Paper Products. Compared to the same period of last year Manufacturing PPI declined 3.8%. The major groups that explained this price fall were Basic Chemicals by 11.7%, Basic Metals by 10.7%, Cement and Non-metallic products by 1.1%, Refined Petroleum Products by 0.3%. The PPI of electricity and water increase of 1.3% compared to October of the same year, as a result of an increase in the price of Electricity by 3.9%, and decreasing prices of water by 1.6%. (QNA)