NEWS RELEASE
Producer Price Index
Highlights
August 2007

October 26, 2007

The Statistical Institute of Jamaica (STATIN) recently released a new economic indicator, the Producer Price Index (PPI) that is being published monthly. The monthly bulletin of producer prices was introduced in February 2007 and tracks price movements at the level of the producer. It covers producer prices for two industries namely, Mining & Quarrying and Manufacturing and is published with a two month lag. All indices are subject to two subsequent revisions after the original release.
 
In August, the Producer Price Index (PPI) advanced by 0.6 per cent and 0.2 per cent for the Mining and Quarrying and Manufacturing industries, respectively. Higher output prices for cement and concrete blocks were the main contributors to the upward movement in the index for Manufacturing.

The fiscal year to date movements in the  PPI for April to August 2007 showed increases of 0.4 and 2.2 per cent in the index for Mining & Quarrying, and Manufacturing respectively.

For the period August 2006 to August 2007, the index for the Mining & Quarrying industry advanced by 6.1 per cent. For the similar twelve month period, the index for the Manufacturing industry recorded an increase of 10.9 per cent.
The increase in the index for Manufacturing was lower in August than July, due primarily to a lower increase in output prices for ‘Food Beverage & Tobacco’ (0.3 per cent) and a fall in the price of ‘Petroleum Products’ (1.6 pr cent).