Producers Price Index : May 2022

Reference Number: 2022-272
Release Date: 30 June 2022


The Producer Price Index (PPI) for manufacturing continued to expand after posting a faster annual rate of 6.9 percent in May 2022 compared with the increment of 6.3 percent last April 2022. In May 2021, the PPI declined by -3.0 percent.  (Table A)

The upturn in the PPI in May 2022 can be attributed to the annual increases in the indices of 21 industry divisions led by manufacture of coke and refined petroleum products which registered an annual growth of 20.7 percent.

On the other hand, only the manufacture of wood, bamboo, cane, rattan articles and related products recorded decrease in its annual growth rate at -5.5 percent.  (Tables A-1 and 1)



Month-on-month, the PPI for manufacturing exhibited a slower increment of 0.4 percent in May 2022 compared with the monthly increase of 0.6 percent in April 2022. In May 2021, the PPI dropped by -0.1 percent.  (Table A)

Sixteen (16) industry divisions recorded positive monthly growth rates in May 2022 which was led by manufacture of beverages with monthly upturn of 0.9 percent. On the contrary, the PPI of five industry divisions registered monthly decrements, with printing and reproduction of recorded media and manufacture of basic pharmaceutical products and pharmaceutical preparations both posting the highest monthly drop of -0.8 percent. Moreover, the monthly growth rate of manufacture of leather and related products, including footwear was at 0.0 percent.  (Tables A-2 and 1)






National Statistician and Civil Registrar General



Technical Notes
  • Introduction
Starting with the January 2021 reference period, the Producer Price Index (PPI) for Manufacturing uses the 2018 as base year, from the previously used 2000 base period. The PPI for Manufacturing measures the changes in the producer price of key commodities produced by the Manufacturing sector. One of its uses is as a deflator to derive the Volume of Production Index (VoPI) and Volume of Net Sales Index (VoNSI).
The PPI for Manufacturing is generated from the results of the Producer Price Survey (PPS) which is conducted nationwide. The survey gathers monthly producer prices of selected products included in the market basket of PPI from sample establishments.
  • Method of Index Computation
The PPI utilizes the chained Paasche-type method of index computation where the base year is normalized. The weights are computed from the value of production from the Census of Philippine Business and Industry (CPBI) or Annual Survey of Philippine Business and Industry (ASPBI), whichever is the more recent. The weights are updated as soon as new results of the CPBI or ASPBI are available and these are applied at the beginning of each survey year.
For the 2022 PPI, the base year used is 2018 and the weights of the industry divisions and industry groups were computed based on the results of the 2019 ASPBI for Manufacturing establishments with total employment of 20 and over.
The computation of PPI adopts the following formula:
Formula 1
Formula 2
Formula 3
Formula 3

Note: A link factor has been used to adjust weight effects to measure the correct price change.



  • 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.




Manufacture of food products *


Manufacture of beverages


Manufacture of tobacco products


Manufacture of Textiles


Manufacture of wearing apparel


Manufacture of leather and related products, including footwear


Manufacture of wood, bamboo, cane, rattan articles, and related products products*


Manufacture of paper and paper products


Printing and reproduction of recorded media


Manufacture of coke and refined petroleum products


Manufacture of chemical and chemical products*


Manufacture of basic pharmaceutical products and pharmaceutical preparations


Manufacture of rubber and plastic products*


Manufacture of other non-metallic mineral products*


Manufacture of basic metals*


Manufacture of fabricated metal products, except machinery and equipment*


Manufacture of computer, electronic, and optical products*


Manufacture of electrical equipment*


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.

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Contact Information

Technical Inquiries:

Price Statistics Division
Economic Sector Statistics Service
+632 8376 1959