Qatar PPI surges in July: PSA

Qatar PPI surges in July: PSA

Qatar's producers' price index (PPI) surged 51.35% year-on-year in July 2022, mainly on the back of the country's hydrocarbons sector and certain manufacturing businesses such as refined petroleum products, chemicals, basic metals and rubber and plastics, according to official estimates.

Qatar's PPI, which captures the price pressure felt by the producers of goods and services, rose 2.41% on a monthly basis in the review period, according to figures released by the Planning and Statistics Authority (PSA).

The PSA had released a new PPI series in late 2015. With a base of 2013, it draws on an updated sampling frame and new weights. The previous sampling frame dates from 2006, when the Qatari economy was much smaller than today and the range of products made domestically much narrower.

The hardening of the global crude oil and industrial input prices, on account of higher inflation and interest rates, had its reflection on the PPI.

The mining PPI, which carries the maximum weight of 82.46%, reported a 58.73% surge on an annualised basis in July 2022 as the average selling price of crude petroleum and natural gas was seen soaring 58.81% and that of stone, sand and clay by 11.36%.

The mining PPI rose 4.25% on a monthly