The Producer Price Index for both the “Mining and Quarrying” and “Manufacturing” industries improved 1% and 0.1% respectively for the month of June 2017. The growth was attributed to the heaviest weighted group ‘Food, Beverages and Tobacco’ which rose 0.1%. Despite this increase, the movement was tempered by a decline in the Refined Petroleum Products’ the second heaviest major group.
According to the Statistical Institute of Jamaica (STATIN), the point-to-point movement for June 2016 to June 2017 reflected an increase of 25.1% in the index for the Mining & Quarrying industry. Over the same period, the Manufacturing industry progressed 5.3% mainly due to an upward movement in the major groups ‘Food, Beverages & Tobacco’ and ‘Refined Petroleum Products’ by 4.3% and 12.5% respectively.
For the fiscal year-to-date an increase of 1.3% was observed in the Mining & Quarrying industry index, while the Manufacturing industry advanced 0.2% for the same period.
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