Producer Price Index Shows Increases in Manufacturing and Mining & Quarrying Industries • For June 2022, output prices for producers in the Mining & Quarrying industry increased by 0.3% and 2.9% in the Manufacturing industry. • The upward movement in the

• For June 2022, output prices for producers in the Mining & Quarrying industry increased by 0.3% and 2.9% in the Manufacturing industry.
• The upward movement in the index for the Mining & Quarrying industry was mainly attributed to a 0.2% rise in the index for the major group ‘Bauxite Mining & Alumina Processing’. The index for the other major group, ‘Other Mining & Quarrying’, moved upward by 2.3%.
• The main contributors to the increase in the index for the Manufacturing industry were the major groups: ‘Food, Beverages & Tobacco’ up by 2.9%, ‘Refined Petroleum Products’ up by 4.6% and ‘Other Non-Metallic Mineral Products’ up by 8.8%.
• The monthly rise resulted in an overall point-to-point (June 2021 – June 2022) rise of 22.4% and 23.8% for the Mining & Quarrying and Manufacturing industries, respectively.
• The rise in the producer price index continues to be supported by the elevated energy and shipping costs, as well as supply chain challenges stemming from geopolitical conflicts and the residual effects of the pandemic. These increases have caused some businesses to be less confident about economic prospects as shown in the recent 7.6% decline in the business confidence index.

(Sources: STATIN & NCBCM Research)