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Year-on-Year
The Producer Price Index (PPI) for manufacturing continued its downtrend with an annual rate of -1.8 percent in August 2021. This decline was slightly faster than the -1.7 percent decline in July 2021. In August 2020, the PPI similarly registered an annual decrease but with a faster rate of -5.1 percent. (Table A)
The decline of the PPI in August 2021 can be attributed to the annual decreases in the indices of eight industry divisions led by manufacture of wood, bamboo, cane, rattan articles and related products which posted a double-digit annual decrement of -25.3 percent.
On the other hand, 14 industry divisions recorded positive annual growth rates which was led by manufacture of coke and refined petroleum products with an annual increase of 15.1 percent. This heavily weighted industry division continuously registered an annual increases since March 2021.
In addition, manufacture of chemical and chemical products (7.8%) and manufacture of food products (2.1%) consistently posted positive growths since May 2021. (Tables A-1 and 1)
Month-on-Month
Month-on-month, the PPI for manufacturing posted a slight increase with a monthly growth rate of 0.1 percent in August 2021, following a higher growth rate of 0.4 percent in July 2021. In August 2020, the PPI also posted a monthly increase of 0.2 percent. (Table A)
Eleven (11) industry divisions recorded positive monthly growth rates in August 2021 led by manufacture of chemical and chemical products and manufacture of coke and refined petroleum products, with monthly increments of 1.3 percent and 1.1 percent, respectively.
On the contrary, the PPI of nine industry divisions recorded monthly decrements, with manufacture of fabricated metal products, except machinery and equipment posting the highest monthly drop of -3.5 percent. The monthly growth rates of the two remaining industry divisions were at 0.0 percent. (Tables A-2 and 1)
DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General
- Introduction
- Method of Index Computation
![Formula 1](/sites/default/files/betafiles/producer-price-survey/165156_tn1a_0.png)
![Formula 2](/sites/default/files/betafiles/producer-price-survey/165156_tn1b_1.png)
![Formula 3](/sites/default/files/betafiles/producer-price-survey/165156_tn2_8.png)
![Formula 3](/sites/default/files/betafiles/producer-price-survey/165156_tn3_6.png)
- Computation of Growth Rates
Year-on-year growth rates are computed by dividing the current month’s index by the index of the same month of the previous year less 1.
Month-on-month growth rates are computed by dividing the current month’s index by the previous month’s index less 1.
- Imputation and Revision
Imputation is done for sample establishments that are in operation during the reference period but with no received response during the release date. Results are revised accordingly when the actual data are received and these revisions are reflected in the next release.
- Industry Coverage
Starting with the January 2013 reference month, PPI utilizes the 2009 Philippine Standard Industrial Classification (PSIC) to classify sectors and industries. Selected industry groups of the 2009 PSIC were grouped to form the 22 industry divisions of the 2021 PPS. These are presented in the table below.
2009 PSIC CODE |
INDUSTRY DESCRIPTION |
---|---|
C10 |
Manufacture of food products * |
C11 |
Manufacture of beverages |
C12 |
Manufacture of tobacco products |
C13 |
Manufacture of Textiles |
C14 |
Manufacture of wearing apparel |
C15 |
Manufacture of leather and related products, including footwear |
C16 |
Manufacture of wood, bamboo, cane, rattan articles, and related products products* |
C17 |
Manufacture of paper and paper products |
C18 |
Printing and reproduction of recorded media |
C19 |
Manufacture of coke and refined petroleum products |
C20 |
Manufacture of chemical and chemical products* |
C21 |
Manufacture of basic pharmaceutical products and pharmaceutical preparations |
C22 |
Manufacture of rubber and plastic products* |
C23 |
Manufacture of other non-metallic mineral products* |
C24 |
Manufacture of basic metals* |
C25 |
Manufacture of fabricated metal products, except machinery and equipment* |
C26 |
Manufacture of computer, electronic, and optical products* |
C27 |
Manufacture of electrical equipment* |
C28 |
Manufacture of machinery and equipment except electrical* |
C29, C30 |
Manufacture of transport equipment* |
C31 | Manufacture of furniture |
C32, C33 | Other manufacturing |
* Industry divisions categorized further into industry groups
See more at the Producer Price Survey (PPS) main page.