PPI Components Increase for July 2025

• Output prices for producers in the Mining and Quarrying industry, a component of the producers' price index (PPI), increased by 15.5% for July 2025, while another PPI component, the index for the Manufacturing industry, increased at a much slower pace of 1.1% according to the Statistical Institute of Jamaica (STATIN).
• The outturn for the Mining & Quarrying industry was driven by a 16.4% rise in the index for the major group ‘Bauxite Mining & Alumina Processing’. The PPI for the other major group, ‘Other Mining & Quarrying’, moved up by 0.1%.
• The increase in the PPI for the Manufacturing industry was largely due to the major groups ‘Food, Beverages & Tobacco’ (0.3%), ‘Refined Petroleum Products’ (4.5%) and ‘Chemicals and Chemical Products’ (1.5%).
• For July 2024 – July 2025, the point-to-point index for the Mining & Quarrying industry decreased by 6.3%. This was primarily due to a decline of 7.2% in the index for the major group ‘Bauxite Mining & Alumina Processing’.
• Meanwhile, the point-to-point index for the Manufacturing industry increased by 1.2%, mainly due to a 3.2% increase in the index for the major group ‘Food, Beverages & Tobacco’. The industry’s overall increase was; however, tempered by an 8.6% fall in the index for the major group ‘Refined Petroleum Products’.
• The rebound in Mining & Quarrying prices in July 2025 may provide a short-term boost to export earnings, but the year-over-year decline signals persistent external headwinds that could weigh on foreign exchange inflows and government revenues. Meanwhile, the steady uptick in Manufacturing points to greater stability. Looking ahead, the divergence between these two industries will remain a key factor influencing Jamaica’s overall price dynamics and balance of payments performance.

(Sources: STATIN and NCBCM Research)