Year-on-Year
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
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)
DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General
- Introduction
- Method of Index Computation
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.
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.