Manufactured product prices fall 0.2% in May

Lower petroleum prices offset continued gains in non-oil manufactured products.

Manufactured Products Price Index fell 0.2% MoM in May 2026 to 133.7, reversing the 6.7% increase recorded in April.

The decline was driven by a 10.3% drop in the oil index amid lower prices of petroleum and related products.

Meanwhile, the non-oil index rose 1.8% to 135.4. The increase was led by machinery and transport equipment, which grew 3.3% due mainly to higher prices for electrical machinery, apparatus and parts.

Prices of crude materials increased 1.2%, whilst animal and vegetable oils rose 0.9%. Food and live animals and miscellaneous manufactured articles also posted marginal gains.

These increases were partly offset by a 2.5% fall in chemicals and chemical products. Manufactured goods and beverages and tobacco each declined 0.2%.

Compared with May 2025, the overall index rose 30.8%, accelerating from April's 27.5% YoY increase. The oil and non-oil indices climbed 58.8% and 26.8%, respectively.

Year-on-year non-oil growth was driven mainly by machinery and transport equipment, which rose 31.2%, including a 40.5% increase in electrical machinery and parts. Chemicals and chemical products increased 29.4%.

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