عربي
Palestinian Central Bureau of Statistics (PCBS)
Palestinian Producer Price Index during June, 06/2024
Decrease in the Producer Price[1] Index (PPI) during June 2024
The overall Producer Price Index (PPI) for Palestine with its base year (2019 = 100) reached 133.25 in June 2024, as it decreased by 0.87% compared to May 2024.
It is worth noting that the relative distribution in production, which is represented by the Producer Price Index (PPI) in all economic activities, where the West Bank represents 90% of it compared to 10% in Gaza Strip. Therefore, the main impact in determining the direction of the PPI is based on price changes in the West Bank, at the level of all activities represented by the Producer Price Index.
As a result of the ongoing Israeli occupation aggression on Gaza Strip, it is estimated that the quantities of industrial and agricultural production have decreased by about 95%, which includes the cessation of production in many activities; thus, the impact of product price changes in Gaza Strip on the overall PPI diminishes to less than 2%.
PPI for locally consumed products during June 2024
Producer Price Index for locally consumed products (2019 = 100) reached 135.78 in June 2024, which indicates a decrease of 0.91% compared to May 2024.
PPI for local exported products during June 2024
Producer Price Index for local exported products (2019 = 100) reached 109.60 in June 2024, which indicates a decrease of 0.39% compared to May 2024.
The changes of PPI for June 2024 were traced back to changes in prices of the following major activities compared to the previous month:
|
Major Activities |
Percent Change % |
|
Agriculture, forestry and fishing |
- 1.86% |
|
Manufacturing |
- 0.36% |
|
Electricity, gas, steam and air conditioning supply |
- 0.35% |
|
Mining and quarrying |
0.00% |
|
Water supply; sewerage, waste management and remediation activities |
+ 5.21% |
Notice for Users:
1. The data collection process for agricultural commodities, which was collected in the same reference month, was complete for the West Bank. Due to the Israeli occupation aggression against Gaza Strip since October 7th, 2023, the data for June 2024, were collected through direct phone contact with PCBS fieldworkers working in Gaza Strip focusing on high relative importance within the main major groups in the producer price index.
2. The process of collecting data on industrial goods for the West Bank sample of industrial establishments was complete for June 2024, while in Gaza Strip; the data of all industrial establishments was estimated due to the accelerated Israeli escalation witnessed in Gaza Strip on October 7 during 2023 against all aspects of society.
3. International recommendations were followed in estimating the missing data, which are mentioned in Price Index guide. Moreover, the (Group Relative Method) is one of the best methods used to estimate the missing data, which is the process of estimating the prices based on the change in the prices of the remaining sources for the same category. Accordingly, in case of the closure of an entire source on a temporary basis, all the prices of that source are estimated based on the change in the prices of the sources that share the same items, which are collected from that source.
4. The estimate is also used at the (Next Level Up in Aggregation) in case of the disappearance of the index for a whole sub-group or a higher group reaching up to the major groups that constitute the index.
[1] The producer’s price is the amount receivable by the producer from the purchaser for a unit of a good or service produced as output minus any VAT, or similar deductible tax, invoiced to the purchaser. The producer’s prices exclude any transport charges invoiced separately by the producer.