Producers Price Index : November 2022

Reference Number: 2022-545
Release Date: 29 December 2022


The Producer Price Index (PPI) for manufacturing posted an increase of 6.4 percent in November 2022. This was lower than the 7.3 percent annual increment observed in October 2022. Last year, the PPI for November posted an increase of 1.1 percent.  (Table A and 1)

The increase in the PPI in November 2022 can be attributed to the annual upturns in the indices of 20 industry divisions led by manufacture of coke and refined petroleum products, which registered an annual growth of 13.8 percent.

On the contrary, the two industry divisions that exhibited decrements were the manufacture of machinery and equipment except electrical and printing and reproduction of recorded media with annual growth rates of -0.3 percent and -0.2 percent, respectively.



Month-on-month, the PPI for manufacturing dropped to annually by -0.7 percent in November 2022, from a 0.1 percent increase in October 2022. In November 2021, the PPI recorded a monthly increment of 0.1 percent.  (Table A and 1)

Fourteen of the 22 industry divisions registered negative monthly growth rates in November 2022. These were led by the manufacture of other non-metallic mineral products (-3.1%); manufacture of computer, electronic and optical products (-2.0%); and manufacture of furniture (-1.2%).

In contrast, the PPI of five industry divisions exhibited increments with manufacture of paper and paper products posting the largest monthly increase at 0.7 percent. Meanwhile, manufacture of beverages, manufacture of leather and related products, including footwear, and manufacture of textiles exhibited zero percent monthly growth rates.  (Tables A-2 and 1)






Manufacture of food products

The PPI for the manufacture of food products posted positive growth with an annual rate of 8.0 percent in November 2022. This rate is a slowdown as compared to the October 2022 annual growth rate of 9.6 percent.

The increment in November 2022 was attributed by the annual increases in the PPI of seven industry groups under the manufacture of food products. Moreover, double-digit upturns were registered in three industry groups, namely: processing and preserving of fish, crustaceans and mollusks (16.4%), manufacture of grain mill products, starches and starch products (15.4%), and manufacture of prepared animal feeds (15.4%)(Tables 1 and 2)

On a month-on-month basis, the PPI for the manufacture of food products exhibited a downward trend with a monthly growth rate of -0.9 percent in November 2022. In October 2022, the PPI for the manufacture of food products is at 1.0 percent. Five of the eight industry groups of food manufacturing contributed to the decrease of its PPI. This was led by the processing and preserving of fruits and vegetables which registered a monthly drop rate of -4.5 percent.  (Tables 1 and 2)






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


A linking factor is computed every time weights are changed. The linking factor is used to adjust new series for comparability with the old series.



  • 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



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Contact Information

Technical Inquiries:

Price Statistics Division
Economic Sector Statistics Service
+632 8376 1959