Manufacturing Producer Price Index – March 2016

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The Producer Price Index for Manufacturing recorded a decline of 0.8 per cent for March 2016 when compared to the previous month.

According to data produced by the Barbados Statistical Service, increases were recorded in the indices for Beverages by 3.1 per cent, and Wearing Apparel by 1.3 per cent.

Declines were registered in the indices for Other Manufacturing by 38.3 per cent; Petroleum and Chemical Products by 1.5 per cent; and Fabricated Metal Products, except Machinery and Equipment, by 0.8 per cent.

The following price indices remained unchanged from February 2016 to March 2016: Food Products; Printing and Reproduction of Recorded Media; Rubber and Plastics Products; Other Non-metallic Mineral Products; and Furniture.??Between March 2015 and March 2016, the Producer Price Index decreased by 3.9 per cent from 106.2 to 102.0 points.

The Food Production Sector experienced a decline of 0.6 per cent between March 2015 and March 2016. Decreases in the sub-group indices for sugar by 21.9 per cent and prepared animal feeds by 8.2 per cent contributed to the decline.

However, increases were recorded in the sub-group indices for dairy products by 6.7 per cent; processing and preserving of fish, crustaceans and molluscs by 3.1 per cent; and other food products not elsewhere classified (n.e.c) by 0.3 per cent.

Beverages increased by 1.2 per cent during the period March 2015 to March 2016. This was due to an increase in the sub-group index for soft drinks, production of mineral waters and other bottled waters by 26.6 per cent. A decline was recorded in the sub-group index for distilling, rectifying and blending of spirits by 10.9 per cent.

The Metallic Mineral Products Sector showed a decline of 18.3 per cent between March 2015 and March 2016. Declines in the sub-group indices for cement, lime and plaster of 37.8 per cent and articles of concrete, cement and plaster by 2.5 per cent, were recorded during the period.

The year-on-year index for the Fabricated Metal Products, except Machinery and Equipment Sector, for March 2016 recorded a decline of 10.7 per cent. Declines were recorded in the sub-group indices for Structural Metal Products by 14.1 per cent and forging, pressing, stamping and roll-forming of metal, powder metallurgy, by 13.9 per cent. An increase was recorded in the sub-group index for Other Fabricated Metal Products n.e.c. by 9.9 per cent.

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