The Jamaica Statistical Institute of Jamaica (STATIN) announces a 1.3 per cent increased for December 2020 in the Producer Price Index for the Mining and Quarrying industry, while the index for the manufacturing industry increased by 0.9 per cent.
The movement in the index for the Mining and quarrying industry was influenced mainly by a 1.3 per cent increase in the index for the major group ‘Bauxite Mining & Alumina Processing’. There was also an increase in the index for the other major group within this industry, ‘Other Mining & Quarrying’, which rose by 0.3 per cent.
The main contributors to the increase in the index for the Manufacturing industry were the major groups, ‘Refined Petroleum Products’ which moved up by 5.3 per cent, ‘Food, Beverages & Tobacco’ up by 0.1 per cent and ‘Other Non-Metallic Mineral Products’ up by 0.5 per cent.
For the period December 2019 – December 2020, the point-to-point index for the Mining & Quarrying industry decreased by 3.3 per cent, due mainly to a decline of 3.5 per cent in the index for the major group ‘Bauxite Mining & Alumina Processing’. The point-to-point index for the Manufacturing industry increased by 1.1 per cent.
For 2020/2021 fiscal year-to-date, April 2020 – December 2020, the index for the Mining & Quarrying industry increased by 15.1 per cent, while the index for the Manufacturing industry increased by 3.0 per cent.
The December 2020 Producer Price Index The bulletin provides additional information on the movement of producers’ prices and is available on STATIN’s website www.statinja.gov.jm or from the Information Section of STATIN. Visit the Institute’s Facebook and Instagram pages @STATINJA for the December 2020 PPI infographic.
The average exchange rate for the previous month was used in calculating the PPI for the current period. The assumption is that producers would not have purchased their raw materials in the current month.