The producer price index in the industrial sector in the nation experienced a diminution of 1.75 percent in January.

The general index of producer prices in the industrial sector for the month of January recorded 129.59 points, down from the previous month by 4.71 percent, and by 1.75 percent from the same month of the previous year (January 2022). The producer price index index for the industrial sector consists of four main sectors, namely, mining, which represents 82.46 percent, the manufacturing sector, which represents 15.85 percent, the electricity sector, which represents 1.15 percent, and the water sector, which represents 0.52 percent of the index value. The Planning and Statistics Authority’s data on this indicator, which was issued today, indicates a decrease in the mining and quarrying sector by 5.61 percent compared to the previous month (December 2022), as a result of the decrease in the prices of the crude oil and natural gas extraction group by 5.61 percent, while the other activities group stabilized. For mining and quarrying without change, it was noted that the value of the index of this sector increased from the corresponding month of the previous year (January 2022) by 0.82 percent. The statement indicated that there was an increase in the manufacturing sector by 0.08 percent from the previous month (December 2022), and this occurred as a result of the increase in five groups, the decrease in two groups, and the stability of one group. It was followed by the rubber and plastics products industry group by 5.50 percent, the cement industry group and other non-metallic mineral products by 0.93 percent, the basic metals industry group (base metals) by 0.89 percent, and the beverage industry group by 0.82 percent. As for the decrease, it occurred in the chemicals industry group. and chemical products by 2.44 percent, and the food products industry group by 0.49 percent. The Print & Reproduction of Recorded Media group was unchanged in January. On the other hand, for the same sector, and in terms of annual change, a decrease in the index amounted to 13.85 percent compared to the corresponding month of the previous year (January 2022), due to the decrease in the prices of the chemicals and chemical products industry group by 23.10 percent, followed by the basic metals industry group. (Basic minerals) by 9.32 percent. While there was an increase in the printing and recording media reproduction group by 13.20 percent, followed by the refined petroleum products industry group by 12.39 percent, the rubber and plastics products industry group by 6.45 percent, the food products industry group by 6.22 percent, the beverage industry group by 0.95 percent, and the manufacturing group by 0.95 percent. Cement and other non-metallic mineral products by 0.09 percent. In turn, the electricity, gas, steam, and air conditioning supply sector witnessed an index increase of 4.12 percent compared to the previous month (December 2022), and compared to the corresponding month of the previous year (January 2022), the index for this sector decreased by 8.29 percent. For its part, the water supply sector recorded an index decrease of 4.19 percent compared to the previous month (December 2022), and compared to the corresponding month of the previous year (January 2022), the index for this sector decreased by 2.58 percent.