Qatar’s PPI jumps 10.74% m-o-m, soars 87.79% y-o-y: PSA

Tribune News Network Doha Producer-price index (PPI) in Qatar in April increased 10.74 percent from March and surged 87.79 percent from a year ago, accordi...

Tribune News NetworkDohaProducer-price index (PPI) in Qatar in April increased 10.74 percent from March and surged 87.79 percent from a year ago, according to the Planning and Statistics Authority, which estimated the PPI for April 2022 at 161.31 points.PPI, which measures either the average change in the price of goods as they leave the place of production or as they enter the production process, covers goods related to a range of products produced domestically.The PPI for mining, which carries a maximum weightage of 72.7 percent, saw an increase of 11.77 percent in April month-on-month and jump of 99.65 percent year-on-year. The PSA report attributed the m-o-m rise to increase in producer prices of crude petroleum and natural gas by 11.79 percent. Other mining and quarrying group, however, showed a decrease of 1.95 percent.The manufacturing index, which has a weightage of 26.8 percent in the index, rose 5.85 percent in April month-on-month, mostly on the back of rise in prices in six groups — refined petroleum products by 8.5 percent, chemicals and chemical products by 6.29 percent, basic metals by 5.39 percent, printing and reproduction of recorded media 1.46 percent, cement and other non-metallic mineral products by 0.90 percent and beverages by 0.61 percent. However, the sector saw prices falls in two groups — rubber and plastics products by 1.96 percent and food products by 0.74 percent.On a year-on-year comparison, the manufacturing PPI of April surged 46.72 percent. The major groups that drove the prices up are refined petroleum products by 71.12 percent, chemicals and chemical products by 51.11 percent, basic metals by 35.33 percent, rubber and plastics products by 34.03 percent, cement and other non-metallic mineral products by 13.66 percent and food products by 0.44 percent. However, prices fell in beverages by 2.62 percent and printing and reproduction of recorded media by 1.01 percent.The PPI for electricity, gas, steam and air conditioning supply, which constitutes 0.5 percent of the index, showed a rise of 0.31 percent month-on-month and 7.85 percent year-on-year. The PPI of water supply showed an increase of 0.74 percent month-on-month and 7.76 percent year-on-year.