Producer Price Index – Manufacturing (PPI-M) - 2^nd Quarter 2024

Highlights

(Base Period: 2018=100)

1. 1.    PPI-M measures changes in the effective prices received by producers of the manufacturing sector for that part of their output sold on the domestic market. It does not cover Export Oriented Enterprises, the products of which are mainly meant for export.

2. 2.    PPI-M, which stood at 152.7 in March 2024, registered an increase of 2.3 points (+1.5%) to reach 155.0 in June 2024. On a monthly basis, PPI-M increased by 1.2 points (+0.8%) in April, 0.7 point (+0.5%) in May and 0.4 point (+0.3%) in June 2024.

3. 3.    The average PPI-M for the second quarter of 2024 stood at 154.5, i.e., an increase of 3.2 points (+2.1%) from 151.3 in the first quarter of 2024. This increase was mainly attributable to higher prices of “Food products and beverages" (+1.7%), “Rubber and plastic products" (+8.9%), “Furniture" (+2.9%), “Other non-metallic mineral products" (+2.5%), “Wearing apparel" (+2.0%), “Chemicals and chemical products" (+1.0%), “Textiles" (+4.9%), “Printing and reproduction of recorded media" (+1.6%), “Fabricated metal products" (+0.5%), “Motor vehicles, trailers and semi-trailers" (+5.4%) and “Other products" (+6.0%).

1. 4.    Compared to the corresponding quarter of 2023, the average PPI-M for the second quarter of 2024 increased by 3.9 points (+2.6%), mainly explained by higher prices of “Food products and beverages" (+2.4%), “Furniture" (+5.7%), “Rubber and plastic products" (+11.0%), “Wearing apparel" (+5.5%), “Other non-metallic mineral products" (+6.2%), “Textiles" (+11.3%), “Other transport equipment" (+6.9%), “Fabricated metal products" (+1.2%), “Motor vehicles, trailers and semi-trailers" (+8.4%) and “Other products" (+7.8%), partly offset by lower prices of “Chemicals and chemical products" (-4.6%), “Basic metals" (-11.7%) and “Printing and reproduction of recorded media" (-2.8%).​

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