Producer Price Index declined 0.5% for June 2019

Date: July 26, 2019

The Producer Price Index for the Mining and Quarrying industry posted a decline by 0.5% for June 2019. The movement was a result of the major group, ‘Bauxite Mining & Alumina Processing’ which experienced a similar decline of 0.05% according to Statistical Institute of Jamaica (STATIN).

The Manufacturing industry slid 1.5 %, influenced by a 9.9% decline in the ‘Refined Petroleum Products’ group. The decline was however tempered by increases in the major groups ‘Rubber & Plastic Products’ by 11.2 % and ‘Food, Beverages & Tobacco’ by 0.2 %.

A 15.2% decrease was recorded for the point to point movements for June 2018 – June 2019. The ‘Manufacturing’ industry recorded a 2.5% increase over the similar period. According to STATIN, “This movement was due to upward movements in the index for the major groups ‘Food, Beverages & Tobacco’ (3.4%) and ‘Refined Petroleum Products’ (-4.8 %).”

For the fiscal year-to-date, the ‘Mining & Quarrying’ industry booked a growth of 3.9%, while the ‘Manufacturing’ industry declined 0.8%.

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2019-07-26T18:12:16+00:00