Mubasher: Qatar’s producer price index (PPI) rose 37.8% year-on-year to 72.7 points in the third quarter of 2018 from 52.7 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 represents 72.7%, followed by manufacturing, and electricity and water, accounting for 26.8% and 0.5%, respectively.
Qatar’s PPI surged on the back of the mining segment’s 44.8% growth, mainly supported by a price hike in crude oil and natural gas and fuel and gas exploration which surged 44.9%.
The manufacturing prices surged 25.5% in the third quarter of 2018, driven by a 34.7% increase in oil refining subgroup, while cement and beverages subgroups retreated by 4% and 1.4%, respectively.
Meanwhile, electricity and water prices witnessed a 3% annual increase.
On a quarterly basis, Qatar’s PPI soared 6%, as the mining, manufacturing and electricity and water prices rose 6.4%, 5.3% and 1%, respectively.
