Qatar: General PPI declines by 0.21% in December 2023

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Doha, Qatar: Planning and Statistics Authority (PSA) has released the Monthly Producer Price Index (PPI) of the Industrial sector for December 2023, calculated based on 2018, where the details of relative importance and prices for the base year of 2018 are used, Therefor the relatives of the main four industry sectors become as follow: “Mining” (weight: 82.46%), “Manufacturing” (weight: 15.85%), “Electricity” (weight: 1.16%), and “Water” (weight: 0.53%).

The PPI for December 2023 is estimated at 118.40 points showing a decrease of 0.21%, when compared to the previous month’s November 2023. On [Y-o-Y] basis, PPI of December 2023 showed a decrease of 12.94%, when compared to the PPI of December 2022.

The PPI of December 2023 for this sector showed a decrease of 0.07% when compared with PPI of November 2023, primarily due to the price decrease on “Crude petroleum and natural gas” by 0.07%, and no change in “Other mining and quarrying”. PPI of Mining of December 2023, when compared with its counterpart in previous year (December 2022), there was a decrease of 13.58%, due to the price decrease on “Crude petroleum and natural gas” by 13.60%, while “Other mining and quarrying” has no change.

A decrease of 2.19% has been recorded in December 2023, when compared with the previous month’s Manufacturing index (November 2023). The prices decrease is seen in: “Basic metals” by 4.90%, followed by “Chemicals and chemical products” by 3.19% and “Beverages” by 0.16%.

The increasing prices are noticed in “Cement & other non-metallic mineral products” by 1.27%, followed by “Rubber and plastics products” by 0.41%, “Food products” by 0.10% and slight increased in “Refined petroleum products” by 0.02%. There is no change in “Printing and reproduction of recorded media”. Compared with the index of counterpart in the previous year (December 2022), “Manufacturing” PPI of December 2023 showed a decrease of 11.61%.

The major groups which explain this price decrease are: “Basic metals” by 16.52%, followed by “chemicals and chemical products” by 15.91%, “Cement & other non-metallic mineral products” by 8.29%, “Refined Petroleum products” by 0.56% and “Printing and reproduction of recorded media” by 0.16%. However, the increasing prices are noticed in “Rubber and Plastics products” by 9.44%, followed by “Beverages” by 3.73% and “Food products” by 2.95%.

In electricity, gas, steam, and air conditioning supply, the PPI of this group showed an increase of 12.73% compared to November 2023. Compared to the PPI of December 2022 [Y-o-Y], the PPI of December 2023, showed an increase of 14.14%.