Mixed Results In Producer Price Index

• The Producer Price Index for the Mining and Quarrying industry increased by 3.8% while the index for the manufacturing industry decreased by 0.3% for October 2020.
• The movement in the index for the Mining and Quarrying industry was influenced mainly by a 4.0% increase in the index for the major group ‘Bauxite Mining & Alumina Processing’.
• The main contributor to the decline in the index for the Manufacturing industry was the major group, ‘Refined Petroleum Products’ which fell by 4.3%. However, increases in the index for the major groups, ‘Food, Beverages & Tobacco’ (0.7%) and ‘Chemicals and Chemical Products’ (0.1%) tempered the decline of the index for the industry.
• The point-to-point index declined by 2.6% for the Mining & Quarrying industry and increased by 0.9% for the Manufacturing industry.

(Source: STATIN)