PPI Components Decline in October 2025

• Output prices for producers in the Mining and Quarrying industry, a component of the producers' price index (PPI), decreased by 4.2% for October 2025, while the index for the Manufacturing industry declined by 0.2% according to the Statistical Institute of Jamaica (STATIN).
• The decrease in the index for the Mining & Quarrying industry was primarily due to a 4.4% fall in the index for the major group ‘Bauxite Mining & Alumina Processing’.
• On the other hand, the decline in the PPI for the Manufacturing industry was due to a 1.6% decrease in the index for the major group ‘Refined Petroleum Products’. The overall decrease in the industry was; however, moderated by a 0.1% increase in the index for the heaviest-weighted major group ‘Food, Beverages & Tobacco’.
• For the period October 2024 – October 2025, the point-to-point index for the Mining & Quarrying industry decreased by 31.7%. This was mainly due to a decline of 32.9% in the index for the major group ‘Bauxite Mining & Alumina Processing’.
• Meanwhile, the point-to-point index for the Manufacturing industry increased by 2.4%. This was due to a 3.6% upward movement in the index for the major group ‘Food, Beverages & Tobacco’. However, the industry’s overall increase was tempered by a 3.7% fall in the index for the major group ‘Refined Petroleum Products’.
• Looking ahead, given the expectation for a ceasefire between Russia and Ukraine, there is an increased likelihood of a deceleration in international oil prices. Furthermore, eight OPEC+ countries, which have been gradually raising production in 2025, are expected to keep their policy to pause hikes in the first quarter of 2026 unchanged. This could result in lower imported input costs for domestic manufacturers and place further downward pressure on the index.

(Sources: STATIN, NCBCM Research)