The Philippine Statistics Authority (PSA) is pleased to inform the public that the Producer Price Index (PPI) for Agriculture is rebased to 2018, from 2006 base period.
The PPI for Agriculture measures the average change over time of prices received by farmers/livestock and poultry raisers/fisherfolks for the sale of their agricultural products relative to a base year.
The salient features of the rebasing are (1) commodities in the market basket are updated, (2) weights, which measure the relative importance of the commodities, are recomputed, and (3) methodology of index computation is slightly modified.
The 2018-based series now covers 191 commodities, from 101 commodities in the 2006-based series. The weights at base year are computed based on the 2018 total value of production of the commodities. Index computation in the 2018-based adopts the chain Paasche- type method from Paasche-type in the 2006-based. The methodology of rebasing the PPI for Agriculture to 2018 was approved by the PSA Board through PSA Board Resolution No.11 series of 2020.
The PSA will release the 2018-based PPI for Agriculture quarterly starting in March 2021 which will cover the period first quarter of 2018 to fourth quarter of 2020. The succeeding quarterly series will be released 60 days after the reference quarter. The PPI for Agriculture will be posted at the PSA Website.
DENNIS S. MAPA, Ph.D.
National Statistician and Civil Registrar General