Producer Price Index in Abu Dhabi up 1.9% in Q1 2020: SCAD

The report for the first quarter of the year showed that the PPI in the first quarter of 2020 decreased by 0.5% compared with the same quarter in 2019

  
Abu Dhabi, Etihad Towers complex. Image used for illustrative purpose.

Abu Dhabi, Etihad Towers complex. Image used for illustrative purpose.

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ABU DHABI - In the first quarter of 2020, the Producer Price Index, PPI, increased by 1.9 percent from 76.3 percent in the fourth quarter of 2019, to 77.7 percent, according to figures released by Statistics Centre – Abu Dhabi, SCAD.

The report for the first quarter of the year showed that the PPI in the first quarter of 2020 decreased by 0.5 percent compared with the same quarter in 2019, from 78.2 percent in the first quarter of 2019 to 77.7 percent in the first quarter of 2020.

Comparing the figures of the first quarter of 2020 with the fourth quarter 2019, the activity of ‘Manufacture of coke and refined petroleum products’ for which prices increased by 5.4 percent, contributed 80.8 percent to the overall change. In addition, the activity ‘Manufacture of chemicals and chemical products’ contributed 15.1 percent to the overall change, for which prices increased by 2.7 percent, the report noted.

Prices of the ‘Manufacture of electrical equipment’ group decreased by 6.5 percent during the first quarter of 2020 compared to the fourth quarter of 2019, and contributed 15.1 percent in reducing the overall increase.

The PPI covers the manufacturing sector and its design is based on the main list of products of the industrial manufacturing activities in the International Standard Industrial Classification-revision 4, ISIC4, which covers all manufacturing economic activities.

© Copyright Emirates News Agency (WAM) 2020.

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