Durrant Pate/ Contributor

Output prices for producers in the Mining and Quarrying industry inched up by 0.2 per cent for November 2024, according to the Statistical Institute of Jamaica (STATIN).

STATIN is also reporting that prices in the manufacturing industry remained relatively unchanged. The movement in the Mining and Quarrying industry was attributed to a similar 0.2 per cent increase in the index for the major group ‘Bauxite Mining & Alumina Processing’. 

For the manufacturing industry, there was a decline of 2.2 per cent in the index for the major group ‘Refined Petroleum Products,’ which was driven by lower international petroleum prices. At the same time, there was a 0.5 per cent increase in the index for the heaviest weighted major group, ‘Food, Beverages & Tobacco’. 

For the period November 2023—November 2024, the point-to-point index for the Mining & Quarrying industry increased by 8.8 per cent. This was mainly due to an increase of 9.0 per cent in the index for the major group ‘Bauxite Mining & Alumina Processing’. 

The point-to-point index for the Manufacturing industry increased by 0.3 per cent, contributing to this was a 3.3 per cent increase in the index for the major group ‘Food, Beverages & Tobacco’. 

However, the industry’s overall increase was tempered by a 10.7 per cent decline in the index for the major group ‘Refined Petroleum Products’.