For November 2021, the index for the Mining and Quarrying industry increased by 1.4 per cent and an upward movement of 0.8 per cent was recorded in the index for the Manufacturing industry as released today by the Statistical Institute of Jamaica (STATIN).
The increase in the index for the Mining and Quarrying industry was influenced mainly by an upward movement of 1.5 per cent in the index for the major group ‘Bauxite Mining & Alumina Processing’. The index for the other major group ‘Other Mining & Quarrying’ rose by 0.3 per cent.
For the period under review, the main contributors to the 0.8 per cent rise in the index for the Manufacturing industry were the major groups: ‘Refined Petroleum Products’ which increased by 1.6 per cent; ‘Food, Beverages and Tobacco’ up by 0.5 per cent and ‘Chemicals and Chemical Products’ which moved by 1.5 per cent.
For the period November 2020 – November 2021, the point-to-point movement for the Mining & Quarrying industry was 27.4 per cent, due mainly to an increase of 28.4 per cent in the index for the major group ‘Bauxite Mining & Alumina Processing’. The point-to-point movement for the Manufacturing industry was 20.2 per cent.
The index for the Mining & Quarrying industry for the 2021/2022 fiscal year, April 2021- November 2021, increased by 17.7 per cent, while the index for the Manufacturing industry advanced by 11.3 per cent.
The November 2021 Producer Price Index bulletin provides additional information on the movement of producers’ prices and is available on STATIN’s website http://www.statinja.gov.jm or from the Information Section of STATIN at (876) 630-1619. Visit the Institute’s Facebook and Instagram pages @STATINJA for the October 2021 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.
PPI Infographics November 2021
WRITTEN BY: STATISTICAL INSTITUTE OF JAMAICA
SOURCE: JIS news