Producer Price Index increase by 2.3 Percent in August 2021

The Statistical Institute of Jamaica (STATIN), output prices for producers in the Mining and Quarrying industry increased by 2.3 per cent for August 2021 while there was an upward movement of 0.5 per cent in the Manufacturing industry as released in September 30, 2021.

The movement in the index for the Mining and Quarrying industry was influenced mainly by an increase of 2.4 per cent in the index for the major group ‘Bauxite Mining & Alumina Processing’. The index for the other major group ‘Other Mining & Quarrying’ moved upward by 0.6 per cent.

The main contributors to the increase in the index for the Manufacturing industry were the major groups, ‘Food, Beverages & Tobacco’ up by 0.8 per cent and ‘Chemicals and Chemical Products’ which increased by 1.4 per cent. Tempering this movement was a decline of 0.3 per cent in the ‘Refined Petroleum Products’ major group.

For the period August 2020 – August 2021, the point-to-point index for the Mining & Quarrying industry rose by 19.1 per cent, due mainly to an increase of 19.7 per cent in the index for the major group ‘Bauxite Mining & Alumina Processing’. The point-to-point index for the Manufacturing industry moved by 15.1 per cent.

For the 2021/2022 fiscal year, April 2021 – August 2021, the index for the Mining & Quarrying industry increased by 4.2 per cent, while the index for the Manufacturing industry advanced by 7.3 per cent.

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