Producion Price Indices – October 2023

Jerusalem, 20 November, 2023 (TPS) -- Israel’s Central Bureau of Statistics released the data on production price indices for October, 2023.

Increase of 1.7% in the Manufacturing Producer Price Index for the Domestic Market, October 2023
The price index of industrial output for local destinations increased by 1.7% in October 2023 compared to September 2023 and reached a level of 126.7 points compared to 124.6 points in the previous month (base: 2020 average=100.0).

The index without fuels increased by 1.0% in October 2023 compared to September 2023 and reached a level of 116.6 points compared to 115.4 points in the previous month (base: 2020 average=100.0).

In the last 12 months (October 2023 vs. October 2022), the industrial output price index for local destinations increased by 3.9%, and the index without fuels increased by 2.3%.

This month, fuel prices increased by 5.9%. In the last 12 months (October 2023 compared to October 2022), fuel prices increased by 16.2%.

The price index of mining and quarrying for local destinations increased by 3.4% in October 2023 compared to September 2023 and reached a level of 116.0 points compared to 112.2 points in the previous month (base: 2020 average=100.0). In the last 12 months (October 2023 compared to October 2022) the index increased by 4.5%.

The “Iron Swords” war that broke out on October 7 had little effect on the return rates in this survey. Price reporting began in the second half of October and the return rate reached 93%, approximately 5% of the factories in the survey did not respond due to reasons related to the war. In general, prices were not collected from factories in localities near the border with Gaza and factories in localities near the northern border that were evacuated of residents.