Qatar- Producer Price Index for February declines by 6

4/25/2016 1:30:57 PM

(MENAFN- The Peninsula)

DOHA: The overall Producer Price Index (PPI) of Qatar’s industrial sector for February 2016 was estimated at 42.3 points showing a decrease of six percent compared to the previous month’s index data released by the Ministry of Development Planning and Statistics revealed.

On year-on-year basis the PPI of February 2016 witnessed a steep fall of 37.6 percent when compared to the PPI of February 2015 which was primarily attributed to the significant fall in prices of “crude petroleum and natural gas”.

The mining sector index (which includes crude oil and natural gas) in February 2016 (with the base year 2013) contracted by 5.4 percent compared to January 2016. However when compared to year-on-year basis the Mining sector in February 2016 witnessed a significant fall of 43.6 percent against the same month last year.

The PPI covers goods relating to “Mining” (weight: 72.7 percent) “Electricity & Water” (weight: 0.5 percent) and “Manufacturing” (weight: 26.8 percent).

In Manufacturing sector a decrease of 7 percent was observed in February 2016 when compared with the previous month’s Manufacturing index this year. Decrease in prices was noticed in “Refined Petroleum Products” by 9.7 percent “Juices” by 8.3 percent “Basic chemicals” by 6.5 percent “Grain mill products” and “Rubber and plastics products” by 0.5 percent each.

However the prices increase were seen in “Other chemical products” by 4.3 percent “Dairy products” by 3.8 percent“ “Beverages” by 1.9 percent “Cement and other non-metallic products” by 0.9 percent and ”Basic Metals” by 0.4 percent. The prices of Paper and Paper Products remained unchanged.

Comparing with the index of February in 2015 “Manufacturing” PPI of February 2016 showed a sharp decline of 24.3 percent. The major groups which explained this price fall were “Refined Petroleum Products” by 29.7 percent ”Basic Metals” by 24.2 percent“Basic chemicals” by 18 percent Rubber and plastics products” by 2.5 percent Grain mill products” by 1.4 percent and “Dairy products” by 0.8 percent “.The Peninsula

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