Qatar’s producer price index (PPI) fell 0.6% year-on-year to 65.7 points in January, from 66.1 points, according to a statement released by the Ministry of Development Planning and Statistics (MDPS) on Tuesday.
The GCC nation’s PPI consists of three main components, namely mining which accounts for 72.7%, followed by manufacturing, and electricity and water, representing 26.8% and 0.5%, respectively.
The annual retreat was pressured by the manufacturing segment’s 7.9% drop, mainly dragged by a price decline in refined petroleum products which tumbled 10.3%, while other chemical products and fibres advanced 12.8%.
On the other hand, electricity and water segment rose 5.5% as electricity prices went up 2.5%, while water prices grew 10.5%.
In addition, the mining group levelled up 2.8% in January on a yearly basis on the back of rising crude oil and natural gas prices.
Month-on-month, Qatar’s PPI tumbled 4.2%, from 68.6 points in December 2018, pressured by the mining group’s 4.6% retreat as well as the manufacturing group’s 3.8% drop.