Industrial Producer Price Index up 2.59% in Q1 2023

AMMAN — The Industrial Producer Price Index went up 2.59 per cent in the first quarter of 2023, amounting to 137.20 points compared with 133.73 points in the same period of 2022, the Department of Statistics (DoS) revealed on Sunday.

The DoS said that the upward trend is the result of a 1.63 per cent increase in the transformative industries price index and a 23.65 per cent increase in the extractive industries price index, while the price index of electricity dropped by 9.56 per cent, the Jordan News Agency, Petra, reported.

The producer prices index for March of 2023 increased by 0.41 per cent, reaching 137.99 points compared with 137.43 during the same month of 2022, the DoS added.

The main contributors to the monthly rise were extractive industries with a 27.50 per cent contribution to the overall increase. On the other hand, the prices of transformative industries and electricity went down by 1.02 per cent and 11.52 per cent, respectively.

The General Industrial Production Quantities Index dropped by 1.93 per cent in the first quarter of 2023, reaching 88.52 points against 90.26 points in the same period of 2022, according to DoS figures cited by Petra.

The decrease was mainly attributed to a 2.43 per cent decline in quantities of transformative industries and a 2.70 per cent decline in electricity quantities, while a 3.80 increase was recorded in extractive quantities.

The index for March dropped by 8.10 per cent, reaching 88.69 points in comparison to 96.50 points during the same month of 2022.

The monthly decrease was attributed to an 8.86 per cent drop in transformative industries, and an 11.57 per cent drop in electricity, while extractive industries increased by 3.0 per cent during the same month, the DoS pointed out.