Manufacturing Producer Price Index – October 2015

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The Producer Price Index for Manufacturing increased by 0.3 per cent at the end of October 2015, when compared to the previous month.

According to data produced by the Barbados Statistical Service, increases were recorded in the Index for Beverages by 2.2 per cent; Other Manufacturing by 4.0 per cent and the Index for Fabricated Metal Products, except machinery and equipment, by 0.3 per cent.

The following price indices remained unchanged during October: Wearing Apparel; Printing and Reproduction of Recorded Media; and Furniture.??Between October 2014 and October 2015, the Producer Price Index declined by 2.1 per cent, from 107.2 to 104.9 points.

The Index for the Food Production Sector decreased by 1.1 per cent at the end of October 2015 when compared to a year earlier. A decrease in the sub-group indices for sugar of 21.9 per cent and prepared animal feeds of 8.2 per cent contributed to this decline. There was an increase in the sub-group index for processing and preserving of fish, crustaceans and molluscs of 12.5 per cent.

In the area of Beverages, the year-on-year index for October 2015 showed an increase of 0.8 per cent due to a notable increase in the sub-group index for soft drinks: production of mineral waters and other bottled waters of 26.6 per cent. A decline was recorded in rectifying and blending of spirits which fell by 10.8 per cent.

The comparison of the prices for October 2015 and October 2014, in the Other Non-Metallic Mineral Products Sector showed a decrease of 1.3 per cent. This decrease resulted from a decline of 2.3 per cent in the articles of concrete, cement and plaster sub-group.

The year-on-year price Index for Fabricated Metal Products, except machinery and equipment, declined by 8.8 per cent. This was attributed to the sub-group indices for forging, pressing, stamping and roll-forming of metal; powder metallurgy of 19.2 per cent and structural metal products of 1.8 per cent. An increase was recorded for Other Fabricated Metal Products of 10.0 per cent.

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