Output prices in Jamaican manufacturing gain marginally for April
/ Our Today
administrator
Output prices for April 2023 in the manufacturing industry increased marginally by 0.3 per cent, as measured by the Statistical Institute of Jamaica (STATIN).
The decline in the index for the ‘Mining and Quarrying’ industry was due mainly to a similar downward movement in the index for the major group ‘Bauxite Mining & Alumina Processing’. The index for the other major group, ‘Other Mining & Quarrying’ decreased by 0.3 per cent.
At the same time, the mining and quarrying industry declined by 1.4 per cent. For the review period, there was an upward movement of 1.8 per cent in the index for the major group ‘Refined Petroleum Products’, which was the main contributor to the 0.3 per cent increase in the manufacturing industry.
The industry’s increase was however moderated by decreases in the index for the major groups; ‘Chemicals and Chemical Products’ (0.2 per cent) and ‘Rubber & Plastic Products’ (1.0 per cent). The point-to-point index (April 2022 – April 2023) for the ‘Mining & Quarrying’ industry, fell by 5.2 per cent.
This decline was attributed to a decrease of 5.5 per cent in the index for the major group ‘Bauxite Mining & Alumina Processing’. However, the point-to-point index for the manufacturing industry moved by up 2.8 per cent due to an 8.1 per cent increase in the index for the major group ‘Food, Beverages & Tobacco’.
The industry’s movement was, however, tempered by the decline of 15.1 per cent in the index for the major group ‘Refined Petroleum Products’.
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