Producer Price Index For Manufacturing – Dec. 2015

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The Producer Price Index for Manufacturing recorded an increase of 3.8 per cent for December 2015 when compared to the previous month.

According to the Barbados Statistical Service, an increase was recorded in the index for Beverages of 30.9 per cent.

The index for Other Non-Metallic Mineral Products recorded a decline of 6.2 per cent; in addition to Other Manufacturing of 3.9 per cent; Petroleum and Chemical Products of 0.9 per cent and Fabricated Metal Products, except Machines and Equipment, of 0.5 per cent.

The following price indices remained unchanged from November 2015 to December 2015: Food Products; Wearing Apparel; Printing and Reproduction of Recorded Media; Rubber and Plastics Products and Furniture.

Between December 2014 and December 2015, the Producer Price Index increased by 0.2 per cent from 107.1 to 107.3 points.

The Index for the Food Production Sector decreased by 1.2 per cent at the end of December 2015, when compared to December 2014. A decrease in the sub-group indices for sugar of 21.9 per cent, prepared animal feeds of 8.2 per cent and processing and preserving of meat of 0.3 percent contributed to this decline.

There was an increase in the sub-group index for processing and preserving of fish, crustaceans and molluscs of 6.9 per cent, as well as other food products of 0.3 per cent.

The year-on-year index for beverages for December 2015 recorded an increase of 31.1 per cent due to a rise in the sub-group index for distilling, rectifying and blending of spirits of 44.9 per cent, in addition to the sub-group index soft drinks: production of mineral waters and other bottled waters of 26.6 per cent.

The comparison of prices for December 2015 and December 2014, in the Other Non-Metallic Mineral Products Sector showed a decrease of 17.2 per cent. This decrease resulted from a decline of 0.7 per cent in the articles of concrete, cement and plaster sub-group, in addition to cement, lime and plaster of 37.8 per cent.

The year-on-year price index for Fabricated Metal Products, except machinery and equipment, declined by 8.4 per cent. This was attributed to the sub-group indices for forging, pressing, stamping and roll-forming of metal; powder metallurgy of 7.8 per cent and structural metal products of 14.1 per cent. An increase was recorded for Other Fabricated Metal Products of 10.0 per cent.

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