Statistics Agency releases first ever Producer Price Index
The Namibia Statistics Agency on 25 June released the country’s first producer price indicator, which is a weighted index of prices businesses charge at producer level for final manufactured goods.
This index shows the price inflation stats for quarter one of 2020 in the manufacture of cement, lime and plaster; electric power generation, transmission and distribution; and water collection, treatment and supply.
During the quarter, of 2020, the annual percentage change for cement, lime and plaster sector was stagnant compared to a deflation of 9.2% recorded during the same quarter of 2019. The Industry index remained unchanged standing at 98.1 basis points since the final quarter of 2018.
This while the annual percentage change in producer prices for electric power generation, transmission and distribution recorded a deflation of 23.9% in the first quarter of 2020 compared to an increase of 2.9% in the first quarter of 2019. The index for this sector stood at 116.1 compared to 152.5 registered during the same quarter a year earlier.
The percentage change in prices for water collection, treatment and supply stood at 6.1% in first quarter of 2020 compared to an increase of 11% during the same period for the previous year.
Statistician General of the Namibia Statistics Agency, Alex Shimuafeni said while this specific report only covers the above sectors, producer price indices for processing and preserving of meat; manufacture of beverages (alcoholic & non-alcoholic); mining and quarrying and manufacture of non-metallic mineral products, will be produced towards the end of 2020.
“Further the Agency have plans to expand the indices to cover other industries such as construction; agriculture, forestry and fishing which are not currently covered and to extend the manufacturing producer price indices to include dairy products, diamond cutting and polishing as well as textile and clothing,” Shimuafeni said.
Caption: The annual percentage change in the producer price index for cement, lime and plaster sector was stagnant.