This January 2022 rate represents an increase of 0.9 percentage point in producer inflation compared to the rate recorded in December 2021 (14.7%).
The monthly change in the producer price index between December 2021 and January 2022 was 4.0%.
Producer price inflation in the mining and quarrying subsector increased by 2.1 percentage points from the December 2021 rate of 0.1% to a record high of 2.2% in January 2022 .
Producer inflation in the manufacturing subsector, which makes up more than two-thirds of all industry, rose 0.8 percentage points to 22.9%.
The utilities sub-sector recorded an inflation rate of 0.3% for January 2022.
In January 2021, the producer price inflation rate for all industry was 8.7%. The rate rose to a record high of 13.0% in March 2020, but fell to 10.9% in April 2021.
In May 2021, the rate increased to 11.8% but declined continuously to a record high of 8.1% in August 2021. Thereafter, the rate increased continuously to a record high of 15, 6% in January 2022.
In January 2022, two of the sixteen major groups in the manufacturing subsector recorded inflation rates above the sector average of 22.9%. The manufacturing of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 35.0%, while the manufacturing of motor vehicles, trailers and semi-trailers recorded the highest rate of inflation. lowest inflation of -2.9%.
The producer inflation rate in the oil subsector was 4.4% in January 2021. The rate rose steadily to 31.0% in March 2021, but fell to 23.9% in June 2021. The rate increased continuously to a high of 58.4% in November 2021. Thereafter, it fell continuously to 35.0% in January 2022