Producer Price Survey : August 2011

Reference Number: 

2011-074

Release Date: 

Thursday, October 6, 2011

 

 

 

Total Manufacturing       August 2011              July 2011       
      Producer Price Index              (2000=100) 163.7 164.3r
            Year-on-Year Growth 0.5 0.0r
            Month-on-Month Growth -0.4 -2.5r

               r-revised

 

  • Producer Price Index increases

     

    Producer Price Index (PPI, 2000=100) for the manufacturing sector picked up to 0.5 percent in August 2011, according to the preliminary results of the monthly Producer Price Survey. Increase in prices were reflected by 11 major sectors led mainly by petroleum products (29.7%). However, nine sectors posted decreases with double-digit decrements posted by furniture and fixtures (-27.4%) and miscellaneous manufactures (-15.7%). Refer to Tables 1 and 1-B.

    On a monthly basis, PPI decreased at a slower rate to -0.4 percent in August 2011. This was brought about by decrements posted by six major sectors led by miscellaneous manufactures (-8.6%). On the other hand, increments were observed in seven sectors led by furniture and fixtures (1.6%). Moreover, seven sectors exhibited flat growths. Refer to Tables 1 and 1-B.

    Figure 1

     

    Figure 2

     

    Response Rate

  • The response rate for August 2011 is 88.1 percent, which corresponds to the retrieval of 280 sample establishments' reports. Refer to Table 2.

    Response Rates for Total Manufacturing
    (In percent)

              August 2011                      July 2011           
    (revised)
    88.1 95.0r

     

  • Technical Notes

     

The National Statistics Office generates various price indices, one of this is the Producer Price Index. (PPI). The PPI is generated through the results of the Producers Price Survey (PPS) conducted nationwide. The survey gathers monthly actual producer prices of selected products included in the market basket.

PPI utilizes the Paasche-type method of index computation with weights computed from the production concentration ratio of the Census of Philippine Business and Industry (CPBI)/ Annual Survey of Philippine Business and Industry (ASPBI). The weights are updated as soon as new results of the ASPBI/CPBI are available and applied at the beginning of each survey year.

Hence, the weights of the major sectors and sub-sectors for the 2009 PPI were computed from the results of the 2006 CPBI for Manufacturing Establishments of total employment of 20 and over, which is the latest census results.

Moreover, for industry classification, the 2010 PPI utilizes the amended 1994 Philippine Standard Industry Classification. There are 20 major sectors covered by the 2010 PPS with three consisting of subsectors.

Non-responding sample establishments are estimated using cold-deck imputation method. Revisions to the preliminary estimates are done upon receipt of actual reports from late respondents.

 

                                                                                                           (Sgd.) CARMELITA N. ERICTA
                                                                                                               Administrator


TABLE 1-A. PRODUCER PRICE INDEX, JULY 2011 - AUGUST 2011
(2000=100)

                               Gainers                                    Year-on-Year Growth (percent)         
August 2011 July 2011
(revised)
 

Petroleum Products

29.7

28.9

Baic Metals

9.3

11.0

Food Manufacturing

4.2

5.2

Transport Equipment

3.5

3.0

Rubber and Plastic Products*

4.6

4.3

Tobacco Products

4.5

4.5

Textiles

3.5

3.3

Machinery Except Electrical

0.2

-2.7

Leather Products

0.4

0.7

Wood and Wood Products

0.1

0.1

Publishing and Printing

0.0

0.0

 
Losers           Year-on-Year Growth (percent)          
August 2011 July 2011
(revised)
 

Electrical Machinery

-5.2

-6.9

Miscellaneous Manufactures

-15.7

-6.6

Furniture and Fixtures

-27.4

-32.1

Beverages

-4.2

-4.2

Paper and Paper Products

-5.3

-3.1

Non-Metallic Mineral Products

-2.4

-4.0

Chemical Products

-0.7

0.4

Footwear and Wearing Apparel

-0.9

-0.6

Fabricated Metal Products

-0.6

0.9

TABLE 1-B. PRODUCER PRICE INDEX, JULY 2011 - AUGUST 2011 
(2000=100)

                             Gainers                                        Month-on-Month Growth (percent)         
August 2011 July 2011
(revised)
 

Electrical Machinery

0.4

-1.7

Machinery Except Electrical

0.6

-11.3

Non-Metallic Mineral Products

1.4

-10.5

Basic Metals

0.2

-6.1

Furniture and Fixtures

1.6

7.9

Rubber and Plastic Products*

0.1

-0.5

Textiles

0.2

-1.1

Leather Products

0.0

0.6

Tobacco Products

0.0

0.0

Publishing and Printing

0.0

0.0

Wood and Wood Products

0.0

0.0

Beverages

0.0

0.0

Footwear and Wearing Apparel

0.0

0.0

Food Manufacturing

0.0

-3.2

 
Losers       Month-on-Month Growth (percent)      
August 2011 July 2011
(revised)
 

Petroleum Products

-2.6

3.6

Miscellaneous Manufactures

-8.6

4.4

Chemical Products

-1.2

0.2

Paper and Paper Products

-1.6

-0.6

Fabricated Metal Products

-0.6

-0.8

Transport Equipment

-0.1

1.3

Note:

* - new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based growth rate.

Year-on-year growth rates are computed by dividing the current month index by previous year same month index less 1.

Month-on-month growth rates are computed by dividing the current month index by previous month index less 1

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Source:   National Statistics Office

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