Producer Price Index-Manufacturing for 1st Quarter 2023

PPI-M, which stood at 147.9 in December 2022, registered an increase of 2.3 points (+1.6%) to reach 150.2 in March 2023. On a monthly basis, PPI-M increased by 0.7 point (+0.5%) in January, 0.9 point (+0.6%) in February and 0.7 point (+0.5%) in March 2023.

The average PPI-M for the first quarter of 2023 stood at 149.4, i.e., an increase of 1.6 points (+1.1%) from 147.8 in the fourth quarter of 2022. This increase was mainly attributable to higher prices of “Food products and beverages » (+1.0%), “Other non-metallic mineral products » (+3.0%), “Printing and reproduction of recorded media » (+3.8%) and “Other products » (+6.0%), partly offset by lower prices of “Chemicals and chemical products » (-1.5%).

Compared to the corresponding quarter of 2022, the average PPI-M for the first quarter of 2023 increased by 16.1 points (+12.1%), mainly explained by higher prices of “Food products and beverages » (+15.5%), “Chemicals and chemical products » (+17.8%), “Furniture » (+13.7%), “Wood and products of wood & cork; articles of straw and plaiting materials/ Paper and paper products » (+24.3%) and “Rubber and plastic products » (+25.8%), partly offset by lower prices of “Fabricated metal products » (-6.0%) and “Basic metals » (-4.7%).