PRODUCER PRICE INDEX – MANUFACTURING (PPI-M) - 1st Quarter 2022
HIGHLIGHTS
(Base Period: 2018=100)
- 1. In order to reflect the changes in the production pattern of manufacturing products, a new set of weights has been calculated with 2018 as base period; the previous one being 2013. Based on the new weighting pattern, PPI-M, which stood at 127.8 in December 2021, registered an increase of 8.2 points (+6.4%) during first quarter 2022 to reach 136.0 in March 2022. On a monthly basis, the PPI-M increased by 3.0 points (+2.3%) in January, by 2.3 points (+1.8%) in February and, by 2.9 points (+2.2%) in March.
2. The average PPI-M for the first quarter of 2022 stood at 133.3, i.e., an increase of 6.6 points (+5.2%) from 126.7 in the fourth quarter of 2021. This increase was mainly attributable to higher prices of “Food products and beverages" (+3.8%), “Fabricated metal products" (+11.3%), “Furniture" (+8.0%), Chemicals and chemical products" (+6.0%) and, “Wearing apparel" (+6.8%).
3. Compared to the corresponding quarter of 2021, the average PPI-M for the first quarter of 2022 increased by 20.2 points (+17.9%), mainly explained by higher prices of “Food products and beverages" (+13.9%), “Fabricated metal products" (+28.9%), “Chemicals and chemical products" (+25.9%), “Furniture" (+24.9%), “Wood and products of wood & cork; articles of straw and plaiting materials/ Paper and paper products" (+28.0%) and “Other products" (+15.6%).
16 June 2022
