Producer Price Survey : November 2011

Reference Number: 

2012-001

Release Date: 

Thursday, January 5, 2012

 

 

Total Manufacturing       November 2011              October 2011       
      Producer Price Index              (2000=100)                   163.0                   161.7r
            Year-on-Year Growth                      1.2                       0.1r
            Month-on-Month Growth                      0.8                       0.7r

           r-revised

 

  • Producer Price Index continues to accelerate

     

Producer Price Index (PPI, 2000=100) for the manufacturing sector increased by 1.2 percent in      November 2011 from 0.1 percent a month ago, according to the preliminary results of the monthly Producer Price Survey. This was due to the increments posted by nine major sectors with significant increases by machinery except electrical (28.6%) and petroleum products (18.8%). However, decreases were posted by ten sectors led by furniture and fixtures (-45.9%). Refer to Tables 1 and 1-B.

On a monthly basis, PPI inched up to 0.8 percent in November 2011 from 0.7 percent registered during the previous month mainly due to the double-digit increment reflected by machinery except electrical (15.0%). On the other hand, price decreases were observed in nine major sectors led by transport equipment (-8.1%). Refer to Tables 1 and 1-B.

Figure 1

Figure 2

  • Response Rate

 

The response rate for November 2011 is 86.8 percent, which corresponds to the retrieval of 274 sample establishments� reports. Refer to Table 2.

Response Rates for Total Manufacturing
(In percent)

          November 2011                      October 2011           
                 (revised)
              86.8                      94.3r

  • 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, OCTOBER 2011 - NOVEMBER 2011
(2000=100)

                               Gainers                                    Year-on-Year Growth (percent)         
November 2011 October 2011
(revised)
 

Machinery Except Electrical

28.6

9.8

Petroleum Products

18.8

26.7

Electrical Machinery

1.9

0.3

Food Manufacturing

2.8

3.6

Basic Metals

5.5

5.7

Rubber and Plastic Products*

5.1

5.7

Paper and Paper Products

6.8

-3.0

Tobacco Products

4.7

4.7

Wood and Wood Products

0.1

0.1

Publishing and Printing

0.0

0.0

 
Losers           Year-on-Year Growth (percent)          
November 2011 October 2011
(revised)
 

Transport Equipment

-26.9

-20.8

Furniture and Fixtures

-45.9

-42.4

Miscellaneous Manufactures

-11.7

-9.1

Beverages

-3.7

-3.7

Non-Metallic Mineral Products

-3.4

-3.4

Chemical Products

-0.9

-2.0

Fabricated Metal Products

-2.3

-1.2

Footwear and Wearing Apparel

-0.6

1.0

Textiles

-0.5

1.2

Leather Products

-0.6

-0.6

TABLE 1-B. PRODUCER PRICE INDEX, OCTOBER 2011 - NOVEMBER 2011
(2000=100)

                             Gainers                                        Month-on-Month Growth (percent)         
November 2011 October 2011
(revised)
 

Machinery Except Electrical

15.0

4.2

Paper and Paper Products

4.0

-1.5

Basic Metals

0.6

0.3

Chemical Products

0.5

-0.1

Miscellaneous Manufactures

0.6

-1.2

Rubber and Plastic Products*

0.1

0.5

Leather Products

0.0

-1.2

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

 
Losers       Month-on-Month Growth (percent)      
November 2011 October 2011
(revised)
 

Transport Equipment

-8.1

0.7

Electrical Machinery

-1.1

0.1

Petroleum Products

-1.1

-0.8

Furniture and Fixtures

-4.2

2.6

Footwear and Wearing Apparel

-1.0

0.6

Food Manufacturing

-0.1

0.5

Non-Metallic Mineral Products

-0.2

-2.1

Fabricated Metal Products

-0.2

1.0

Textiles

-0.1

0.0

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

Source:   National Statistics Office

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