According to the Palestinian Central Bureau of Statistics (PCBS), the overall Producer Price Index (PPI) for Palestine with its base month (December 2015=100) reached 99.25 in February 2016, as it decreased by 0.61% compared to January 2016.

Producer Price Index for local exported products (December 2015=100) reached 99.32 in February 2016, which indicates a decrease by 0.68% compared to January 2016.

Producer Price Index for locally consumed products (December 2015=100) reached 99.20 in February 2016, which indicates a decrease by 0.52% compared to January 2016.

 The prices of agriculture, forestry and fishing goods decreased by 2.81% and formed 25.20% of the goods basket. The decrease in their prices resulted from the drop in the price of temporary crops by 5.92%, and the drop in the price of vegetables, tubers, melons and root vegetables by 7.34%.

The prices within the activity of livestock and animal production decreased by 1.89%. The prices of permanent crops decreased by 1.26% due to the decrease in the prices of citrus production by 4.35%.

The prices of goods within the manufacturing activity decreased by 0.37% and formed 60.61% of the goods basket. The decrease in their prices resulted from the decrease in the price of manufacturing metal products, excluding machinery and equipment, by 3.06%, the price of manufacturing non-metal products by 2.04%, the price of manufacturing wood products by 1.73%, the price of manufacturing rubber and plastic products by 1.21%, and the prices of gristmill products by 0.78%.

On the other hand, there was an increase in the prices of manufacturing of paper and its products by 5.00%, the price of manufacturing chemicals and chemical products by 2.74%, the price of manufacturing furniture by 2.60%, the price of preparing and preserving fruit and vegetables by 2.57%, the price of manufacturing tobacco products by 0.60%, and the price of manufacturing textiles by 0.56%.

The prices of goods within the mining and quarrying activity decreased by 1.54%, and formed 2.24% of the goods basket.

The prices within the water supply, sewerage, waste management and remediation activities decreased by 3.53%, and formed 0.78% of the goods basket.

The prices of electricity, gas, steam and air conditioning supply witnessed an increase by 3.39%, and formed 11.17% of the goods basket.

Note: Since the beginning of 2016, PCBS updated the base month for the Producer Price Index to be December 2015 instead of 2011, as well as started using International Standard of Industrial Classification for all Economic Activates (Revision Four) instead of Revision Three.

(Palestine Economy Portal)