PRODUCER PRICE INDEX – MANUFACTURING (PPI-M) - 1st Quarter 2024
HIGHLIGHTS
(Base Period: 2018=100)
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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.
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2. PPI-M, which stood at 149.5 in December 2023, registered an increase of 3.2 points (+2.1%) to reach 152.7 in March 2024. On a monthly basis, PPI-M increased by 0.4 point (+0.3%) in January, 1.5 points (+1.0%) in February and 1.3 points (+0.9%) in March 2024.
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3. The average PPI-M for the first quarter of 2024 stood at 151.3, i.e., an increase of 1.7 points (+1.1%) from 149.6 in the fourth quarter of 2023. This increase was mainly attributable to higher prices of “Food products and beverages" (+1.2%), “Furniture" (+1.7%), “Wearing apparel" (+2.6%), “Other non-metallic mineral products" (+2.1%), “Other transport equipment" (+4.3%), “Rubber and plastic products" (+2.5%), “Textiles" (+3.4%), “Wood and products of wood & cork; articles of straw and plaiting materials/ Paper and paper products" (+1.1%) and “Other products" (+1.7%), partly offset by decreases in the prices of “Basic metals" (-3.0%).
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4. Compared to the corresponding quarter of 2023, the average PPI-M for the first quarter of 2024 increased by 1.9 points (+1.3%), mainly explained by higher prices of “Food products and beverages" (+2.0%), “Furniture" (+2.8%), “Other non-metallic mineral products" (+5.1%), “Wearing apparel" (+3.4%), “Textiles" (+8.8%), “Other transport equipment" (+5.7%), “Fabricated metal products" (+0.6%) and “Other products" (+7.1%), partly offset by lower prices of “Chemicals and chemical products" (-6.8%), “Basic metals" (-10.3%) and “Printing and reproduction of recorded media" (-4.6%).
18 June 2024
