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Abu Dhabi producer prices down 0.5% in Q1

Abu Dhabi producer prices down 0.5% in Q1
The PPI reached 77.7% over Q1-20

Abu Dhabi – Mubasher: The producer price index (PPI) of Abu Dhabi slipped by 0.5% on an annual basis over the first quarter (Q1) of 2020, reaching 77.7%.

The prices of the ‘Manufacture of chemicals and chemical products’ activity declined by 26.8% and contributed 707.6% to the overall change, data by the Statistics Center - Abu Dhabi (SCAD) showed on Thursday.

Meanwhile, the ‘Manufacture of basic metals’ activity went down by 7.4%, contributing 91.1% to the overall change.

Prices of the ‘Manufacture of coke and refined petroleum products’ group soared by 10.9% and contributed 526.2% in reducing the overall decrease.

In addition, the PPI signalled a 1.9% quarterly growth in Q1-20, compared with its reading in Q4-19 at 76.3%.