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Tribune News Network
Producer prices in Qatar stayed in the inflationary territory in December as their index rose 8.1 percent month-on-month in keeping with its mostly upward trajectory since September.
In the 12 months until December, the Producer Price Index (PPI) showed a sharp decline of 20.9 percent, according to the Planning and Statistics Authority.
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 9.4 percent in December month-on-month and a decline of 25.2 percent year-on-year. The PSA report attributed the surge to increase in producer prices of crude petroleum and natural gas, but did not specify the reason for the decline in the 12-month period.
The manufacturing sector, which has a weightage of 26.8 percent in the index, rose 5.6 percent in December month-on-month, mostly on the back of rise in prices of six groups — basic chemicals by 9.5 percent, refined petroleum products by 6.3 percent, paper and paper products by 2.3 percent, rubber and plastics products by 1.4 percent, juices by 0.7 percent, grain mill and other products by 0.5 percent, and dairy products by 0.3 percent. However, the sector saw prices decline in two groups — basic metals by 1.6 percent and beverages by 0.9 percent. No change was recorded in the manufacuring PPI of cement and other non-metallic products and other chemical products and fibre.
On a year-on-year comparison, the manufacturing PPI of December tanked 11.8 percent. The major groups that drove the prices down included refined petroleum products by 16.2 percent, basic chemicals by 11.7 percent, other chemical products and fibre by 6.9 percent, cement and other non-metallic products by 5.8 percent, rubber and plastics products by 3.1 percent and grain mill and other products by 0.3 percent. However, prices increased for basic metals by 12.9 percent, paper and paper products by 6.4 percent, juices by 5.6 percent and dairy products by 0.1 percent. No change was noticed in the beverages group.
The PPI for electricity and water, which constitutes 0.5 percent of the index, showed an increase of 16.6 percent month-on-month due to increasing prices in electricity by 30.4 percent. Prices for water went up by 8.3 percent during the period.
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