The Producer Price Index for Manufacturing for May stood at 104.6 points, representing a decrease of 0.7 per cent when compared with the 105.3 points recorded the previous month.
According to data produced by the Barbados Statistical Service, declines were registered for Beverages by 1.8 per cent; Food Products by 0.9 per cent; and Fabricated Metal Products (except machinery and equipment) by 0.6 per cent.
Increases were recorded for Other Manufacturing and Petroleum and Chemical Products by 1.2 per cent and 0.6 per cent, respectively.??The price indices for the following industries remained unchanged: Wearing Apparel; Printing and Reproduction of Recorded Media; Rubber and Plastic Products; Other Non-metallic Mineral Products and Furniture.
Between May 2014 and May 2015, the Producer Price Index declined by 1.8 per cent from 106.5 to 104.6 points.??The Food Production Sector experienced a decline of 1.1 per cent between May 2014 and May 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 12.3 per cent and processing and preserving of meat by 1.1 per cent.
Beverages decreased by 8.7 per cent during that 12-month period due to a significant decline in the sub-group index for distilling, rectifying and blending of spirits by 16.4 per cent.
The Other Non-Metallic Mineral Products Sector showed a decrease of 1.2 per cent between May 2014 and May 2015. This decline resulted from a 2.1 per cent drop in the sub-group articles of concrete, cement and plaster.
The year-on-year index for the Fabricated Metal Products (except machinery and equipment) Sector for May recorded an increase of 6.2 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.