KINGSTON, Jamaica — The manufacturing sector in Jamaica experienced a 0.6 percent drop in output prices for September, primarily driven by a significant 4.5 percent reduction in refined petroleum products.
While this decline reflects broader challenges within manufacturing, it was partially offset by a modest 0.3 percent rise in the food, beverages, and tobacco sector, which has shown resilience in current market conditions.
This information comes from the latest Producer Price Index published by the Statistical Institute of Jamaica (STATIN) on Friday. The report highlighted that the mining and quarrying industry saw a positive shift, with output prices increasing by 0.5 percent in September. This growth was largely fueled by a corresponding rise in bauxite mining and alumina processing, which also recorded a 0.5 percent increase.
STATIN further reported that other mining and quarrying activities saw a slight uptick, with the index rising by 0.1 percent.
Looking at the year-on-year data from September 2023 to September 2024, the mining and quarrying industry’s point-to-point index rose by 8.1 percent, reflecting a robust 8.2 percent growth in bauxite mining and alumina processing.
In contrast, the manufacturing sector faced a point-to-point index decline of 0.9 percent over the same year, primarily due to a steep 15.1 percent drop in refined petroleum products. Despite this, the food, beverages, and tobacco sector’s increase of 2.9 percent has provided a crucial buffer against the overall downturn in manufacturing prices.
