The Producer Price Index (PPI) is up nearly 1 percent in November and for the 12 months to November there was an increase in the index for the Mining Quarrying industry of 13.4 per cent and the Manufacturing industry of 8.5 per cent based on the point-to-point movement.
Statistical Institute of Jamaica (STATIN), who compiles the data stated that “for the Mining & Quarrying industry PPI for November, increased by 0.9 per cent”, mainly due the continued depreciation of the Jamaican dollar during the period. “The producer prices for the Manufacturing industry increased by 0.8 per cent. This increase in the index for the Manufacturing industry, was mainly impacted by the upward movement in the index for the major groups; ‘Food, Beverages & Tobacco’ and ‘Other Non-Metallic Products’ of 0.9 per cent, and 3.2 per cent respectively”.
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The point-to-point movement to November in the Manufacturing industry mainly resulted from increases of the following major groups: ‘Food, Beverages & Tobacco’, 7.5 per cent, ‘Refined Petroleum Products’ 12.0 per cent and ‘Other Non-Metallic Mineral Products’ 20.9 per cent.
The period April 2013 to November 2013, the Mining & Quarrying industry reflected an upward movement in its index of 8.1 per cent and the Manufacturing industry’s index rose by 3.5 per cent.
Related post | November worse month for revenues
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