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Release Date :
Reference Number :
2015-065

 

Table A  Year-on-Year and Month-on-Month Growth Rates of Producer Price Index:

June 2015 and May 2015

TOTAL MANUFACTURING

June
2015
May
2015

Producer Price Index (2000=100)

144.1

143.4 r

          Year-on-Year Growth

-3.8

 -4.8 r

         Month-on-Month Growth

0.5

0.2

       r -revised
 
  •    Producer Price Index decreases further in June 2015

Producer Price Index (PPI, 2000=100) for manufacturing declined by 3.8 percent in June 2015 compared with negative 2.3 percent during the same month of last year. Twelve out of 20 major sectors posted negative annual rates with three sectors significantly pulling down the June 2015 PPI led by wood and wood products (-22.3%), petroleum products (-17.0%) and furniture and fixtures (-14.7%). On the other hand, the remaining eight sectors reflected single-digit increases led by beverages (9.8%). Refer to Tables 1 and A-1.

On a monthly basis, PPI rose 0.5 percent in June 2015 from an increase of 0.2 percent in May 2015. This was brought about by the rising prices of eleven sectors led by furniture and fixtures (1.9%). Furthermore, four sectors posted flat growths while five sectors reflected decreases. Refer to Tables 1 and A-2.

 

 

 

 

 

TABLE A-1   Producer Price Index, May 2015 – June 2015
(2000=100)

 

Gainers

Year-on-Year Growth (percent)

June 2015
May 2015
(revised)

Beverages

9.8

8.9

Food Manufacturing

-0.2

0.1

Rubber and Plastic Products

1.0

1.5

Chemical Products

1.9

1.7

Tobacco Products

0.9

0.9

Miscellaneous Manufactures

1.2

1.5

Paper and Paper Products

2.8

0.0

Textiles

1.7

1.5

Leather Products

0.5

0.2

 

Losers  

Year-on-Year Growth (percent)

June 2015

May 2015
(revised)

Petroleum Products

-17.0

-18.0

Furniture and fixtures

-14.7

-26.8

Machinery Except Electrical

-0.7

-5.6

Transport Equipment

-1.8

-3.2

Basic Metals

-3.4

-3.4

Non-Metallic Mineral Products

-7.7

-7.0

Wood and Wood Products

-22.3

-22.3

Footwear and Wearing Apparel

-0.2

-0.7

Printing

-0.7

-0.8

Fabricated Metal Products

-3.4

-0.1

Electrical Machinery

-9.5

-7.0

 

TABLE A-2   Producer Price Index, May 2015 – June 2015
(2000=100)

 

Gainers

Month-on-Month Growth (percent)

June 2015
May  2015
(revised)

Petroleum Products

1.2

-3.2

Electrical Machinery

0.6

2.3

Food Manufacturing

0.3

-0.1

Machinery Except Electrical

0.7

-0.7

Miscellaneous Manufactures

0.9

0.1

Non-Metallic Mineral Products

0.4

-0.3

Furniture and Fixtures

1.9

-5.0

Chemical Products

0.1

-0.6

Fabricated Metal Products

0.3

-0.1

Paper and Paper Products

0.2

0.4

Leather Products

0.3

0.2

Textiles

0.0

0.1

Printing

0.0

0.0

Beverages

0.0

0.0

Tobacco

0.0

0.0

 

Losers

Month-on-Month Growth (percent)

June 2015
May 2015
(revised)

Transport Equipment

-0.3

-0.2

Basic Metals

0.2

0.4

Footwear and Wearing Apparel

-0.5

-0.1

Wood & Wood Products

-0.9

-3.9

Rubber and Plastic Products

-0.1

0.4

 

Notes:
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

 

Technical Notes
 
  • Introduction
The Philippine Statistics Authority generates various price indices, one of these is the Producer Price Index (PPI). The PPI, a designated statistics, is generated through the results of the Producer Price Survey (PPS) conducted nationwide. The survey gathers monthly producer prices of selected products of establishments included in the market basket.
 
The PPI is used as a deflator of the Monthly Integrated Survey of Selected Industries (MISSI) to derive indicators for the Volume of Production Index (VoPI) and Volume of Net Sales (VoNSI).
 
  • Method of Index Computation
PPI utilizes the Paasche-type method of index computation. The weights are computed from the value of production to derive concentration ratios from the Census of Philippine Business and Industry (CPBI) or Annual Survey of Philippine Business and Industry (ASPBI). The weights are updated as soon as new results of the ASPBI or CPBI are available and applied at the beginning of each survey year.
 
For the 2014 PPI, the weights of the major sectors and sub-sectors were computed from the results of the 2010 ASPBI for Manufacturing Establishments with total employment of 20 and over, which is the latest census results.
 
The formulas in the computation of the PPI are as follows:
 
 

 

  • Industry Coverage

Starting with January 2013 reference month, the PPI utilizes the 2009 Philippine Standard Industry Classification (PSIC) to classify sectors and industries. Selected industry classes of the 2009 PSIC were grouped to form the 20 industry groupings of the 2014 PPS. These are presented in the table below.

2009 PSIC CODE

INDUSTRY DESCRIPTION

C10

Food manufacturing *

C11

Beverages

C12

Tobacco products

C13

Textiles*

C14,C152

Footwear and wearing apparel

C151

Leather products

C16

Wood and wood products*

C17

Paper and paper products

C18

Printing and reproduction of recorded media

C19

Petroleum products*

C20,C21

Chemical products*

C22

Rubber and plastic products*

C23

Non-metallic mineral products*

C24

Basic Metals*

C25

Fabricated metal products

C262,C275,C28,C263,C268

Machinery except electrical*

C261,C264,C27,C29301

Electrical machinery*

C29 except C29301,C30

Transport equipment

C31

Furniture and fixtures

C265,C266,C267,C32

Miscellaneous manufactures

Note:  * - Major sectors categorized into sub-sectors

 

  • Response Rate

The response rate for June 2015 is 78.4 percent, which corresponds to the retrieval of 571 establishments’ reports out of the 728 samples for the survey.  Refer to Table B.

Table B Response Rates For Total Manufacturing
(In Percent)

June 2015

May 2015
(revised)

78.4

88.0r

Missing prices for products of sample establishments are estimated using the short-term relative change of all available prices within the same industry class. Revisions to the preliminary estimates are done upon receipt of actual reports from late responding establishments.

 

 

 

 

(Sgd.) LISA GRACE S. BERSALES, Ph.D.
National Statistician

 

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