Manufacturing Producer Price Index – Jan. 2016

BARBADOS:  The Producer Price Index for Manufacturing recorded an increase of 36.5 per cent for January 2016 when compared to the previous month.
According to data produced by the Barbados Statistical Service, increases were recorded in the indices for Beverages by 182.4 per cent; Other Manufacturing by 76.1 per cent; and Petroleum and Chemical Products by 5.7 per cent.
Declines were registered in the indices for Fabricated Metal Products, except Machinery and Equipment, by 1.2 per cent; and Other Non-metallic Mineral Products by 0.5 per cent.
The following price indices remained unchanged from December 2015 to January 2016: Food Products; Wearing Apparel; Printing and Reproduction of Recorded Media; Rubber and Plastics Products and Furniture. Between January 2015 and January 2016, the Producer Price Index increased by 22.7 per cent, from 119.4 to 146.5 points.
The Food Production Sector experienced a decline of 1.1 per cent between January 2015 and January 2016. Decreases in the sub-group indices for sugar by 21.9 per cent, and prepared animal feeds by 8.2 per cent, contributed to the decline.
However, increases were recorded in the sub-group indices for processing and preserving of fish, crustaceans and molluscs by 6.6 per cent and other food products, not elsewhere classified, by 0.3 per cent.
Beverages increased by 107.8 per cent during the period January 2015 to January 2016. This was due to increases in the sub-group indices for distilling, rectifying and blending of spirits by 139.6 per cent; and soft drinks, production of mineral waters and other bottled waters by 26.6 per cent.
The Other Non-Metallic Mineral Products Sector showed a decline of 17.3 per cent between January 2015 and January 2016. Declines in the sub-group indices for cement, lime and plaster of 37.8 per cent, and articles of concrete, cement and plaster by 0.8 per cent, were recorded during the period. The year-on-year index for Fabricated Metal Products Sector, except machinery and equipment, for January 2016 recorded a decline of 9.9 per cent.
Declines were recorded in the sub-group indices for structural metal products by 14.1 per cent, and forging, pressing, stamping and roll-forming of metal – powder metallurgy – by 11.9 per cent. An increase was recorded in the sub-group index for other fabricated metal products, not elsewhere classified, by 9.9 per cent.