Producer Price Index (Manufacturing) For June 2015

admin Ministry News

The Producer Price Index (Manufacturing) for June 2015 stood at 104.9 points, an increase of 0.3 per cent when compared with the 104.6 points recorded the previous month.

Based on data produced by the Barbados Statistical Service, an increase was recorded in beverages by 4.8 per cent, while declines were registered for furniture by 6.9 per cent and fabricated metal products, except machinery and equipment, by 2.0 per cent.

Declines were also recorded for other manufacturing and petroleum and chemical products by 0.8 per cent and 0.7 per cent respectively.

The price indices remained unchanged for food products, wearing apparel, printing and reproduction of recorded media, rubber and plastic products and other non-metallic mineral products.

Between June 2014 and June 2015, the Producer Price Index declined by 1.5 per cent, from 106.5 points to 104.9 points.??Meanwhile, the food production sector experienced a decline of 1.1 per cent between June 2014 and June 2015.

Decreases in the sub-group indices for prepared animal feeds of 13.3 per cent and sugar by 2.7 per cent contributed to the decline. However, increases were recorded during the period for processing and preserving of fish, crustaceans and molluscs by 14.2 per cent, and processing and preserving of meat by 1.1 per cent.

Beverages decreased by 5 per cent during the period June 2014 to June 2015 due to a notable decline in the sub-group index for distilling, rectifying and blending of spirits by 9.3 per cent.

In respect of other non-metallic mineral products, the sector showed a decrease of 1.1 per cent between June 2014 and June 2015. This decline resulted from a 1.9 per cent drop in the sub-group, Articles of concrete, cement and plaster.??

The year-on-year index for fabricated metal products, except machinery and equipment, for June 2015 recorded an increase of 3.5 per cent. This was reflected in increases in structured metal products by 14.4 per cent, and other fabricated metal products not elsewhere classified by 10.0 per cent.

A decline of 7.8 per cent was recorded in forging, pressing, stamping and roll forming of metal and powder metallurgy.

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